Current account determinants in a globalized world
Bibliographic Data
| ID | 21541688 |
|---|---|
| Authors | Mariam Camarero (0000-0003-4525-5181, Universitat Jaume I, corresponding author), Josep Lluís Carrion‐i‐Silvestre (0000-0003-2733-7677, Barcelona School of Economics), Cecilio Tamarit (0000-0002-0538-9882, Universitat de València) |
| Year | 2025 |
| Volume | 68 |
| Issue | 4 |
| Pages | 1497-1527 |
| Publication date | 2025-04-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Empirical Economics (JOURNAL) |
| Journal identifiers | ISSN: 0377-7332 • E-ISSN: 1435-8921 |
| Publisher | Springer Science and Business Media LLC (PUBLISHER) |
| DOI | 10.1007/s00181-024-02686-w |
| OpenAlex | W4405008626 |
| Language | EN |
| References cited | 33 |
This paper investigates the determinants of external imbalances for a group of 26 developed and emerging countries over the period 1972–2021. In addition to traditional factors, the model incorporates the impact of external imbalances in third countries. The empirical evidence highlights the importance of accounting for parameter instabilities in modeling external imbalances, with countries exhibiting heterogeneous behavior in terms of the estimated break dates. The results underscore the critical role of external drivers, such as oil shocks, and the growing influence of third-country imbalances in an increasingly globalized world. Additionally, demographic trends emerge as a significant long-run internal driver. Finally, the paper calculates regime-specific short-run multipliers
Current account · Development economics · Econometrics · Economics · Exchange rate · Global Imbalances · International economics · Macroeconomics · Global Financial Crisis and Policies · Market Dynamics and Volatility · Monetary Policy and Economic Impact
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| Highly cited | No |
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