The Relative Dynamics of Investment and the Current Account in the G7‐Economies
Bibliographic Data
| ID | 9715892 |
|---|---|
| Authors | Mathias Hoffmann (0000-0002-2776-1403, University of Southampton, corresponding author) |
| Year | 2001 |
| Volume | 111 |
| Issue | 471 |
| Pages | C148-C163 |
| Publication date | 2001-04-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/1468-0297.00625 |
| OpenAlex | W2101147353 |
| Language | EN |
| References cited | 8 |
This paper contributes to the empirics of the intertemporal approach to the current account. We use a cointegrated VAR framework to identify permanent and transitory components of country-specific and global shocks. Our approach allows us to investigate empirically the sensitivity to persistence implied by many forward-looking models and our results shed new light on the excess volatility of investment encountered by Glick and Rogoff (1995). In G7 data, we find the relative current-account and investment response to be in line with the intertemporal approach
Current account · Econometrics · Economics · Exchange rate · Financial economics · Investment (military · Macroeconomics · Monetary economics · Volatility (finance · Global Financial Crisis and Policies · Market Dynamics and Volatility · Monetary Policy and Economic Impact
Econometric Issues in the Analysis of Regressions with Generated Regressors
A new approach to decomposition of economic time series into permanent and transitory components with particular attention to measurement of the ‘business cycle’
Two-Step Generalized Least Squares Estimators in Multi-Equation Generated Regressor Models
Permanent and Transitory Movements in Labor Income
Cointegration and Tests of Present Value Models
Domestic Saving and International Capital Flows
International Capital Mobility Amongst the Major Industrialised Countries
Statistical analysis of cointegration vectors
| Citation velocity | historical |
|---|---|
| Highly cited | No |