Capital mobility and current account imbalance: Nonlinear threshold vector autoregression approach
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A Structural VAR Approach to the Intertemporal Model of the Current Account
The intertemporal current account approach predicts that the current account of a small open economy is independent of global shocks, and that responses of the current account to countryspecific shocks depend on the persistence of the shocks. The author shows that these predictions impose cross-equation restrictions (CERS) on a structural vector autoregression (SVAR). To test the CERs, the auth...
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