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An analysis of the trade balance for OECD countries using periodic integration and cointegration
dc.contributor.author | del Barrio Castro, Tomás | |
dc.contributor.author | Camarero, Mariam | |
dc.contributor.author | Tamarit, Cecilio | |
dc.date.accessioned | 2016-06-03T15:09:14Z | |
dc.date.available | 2016-06-03T15:09:14Z | |
dc.date.issued | 2015 | |
dc.identifier.issn | 0377-7332 | |
dc.identifier.issn | 1435-8921 | |
dc.identifier.uri | http://hdl.handle.net/10234/160313 | |
dc.description.abstract | We analyze imbalances in external accounts that have historically affected most developed countries. The purpose of this study was to shed some light on the sustainability of the current account for a group of OECD countries by merging the popular Husted (Rev Econ Stat 74(1):159–166, 1992) testing procedure with recent econometric analysis dealing with seasonality. A necessary condition for current account sustainability is that exports and imports are cointegrated. Following previous empirical studies (Husted 1992; Arize in Int Rev Econ Financ 11:101–115, 2002; Hamori in Appl Econ Lett 16:1691–1694, 2009), we analyze the long-run relationship linking exports and imports, using quarterly data. In contrast to these studies, we explicitly deal with seasonal effects through the use of periodic integration and cointegration and find a long-run relationship for the majority of the countries. | ca_CA |
dc.description.sponsorShip | We thank Denise R. Osborn for her helpful suggestions on a previous version of this paper, and also the constructive comments of two anonymous referees and the editor of the Journal. The authors gratefully acknowledge financial support from MICINN (Projects ECO2011-23934 and ECO2011- 30260-C03-01). The paper has been finished during a stay of C. Tamarit at the University of Goettingen funded by the Spanish Ministry of Education mobility programme (Grant Ref. PRX12/00103). C. Tamarit and M. Camarero are members of INTECO research group funded by Generalitat Valenciana, PROMETEO 2009/098 project as well as the European Commission (Lifelong Learning Program-Jean Monnet Action references 542457-LLP-1-2013-1-ES-AJM-CL and 542434-LLP-1-2013-1-ES-AJM-CL). This publication reflects the views only of the authors, and the Commission cannot be held responsible for any use which may be made of the information contained therein. | ca_CA |
dc.format.extent | 16 p. | ca_CA |
dc.format.mimetype | application/pdf | ca_CA |
dc.language.iso | eng | ca_CA |
dc.publisher | Springer Berlin Heidelberg | ca_CA |
dc.relation.isPartOf | Empirical Economics, 2015, vol. 49, núm. 2 | ca_CA |
dc.rights | © Springer-Verlag Berlin Heidelberg 2014 © Springer International Publishing AG, Part of Springer Science+Business Media "The final publication is available at Springer via http://dx.doi.org/10.1007/s00181-014-0874-y" | ca_CA |
dc.rights.uri | http://rightsstatements.org/vocab/InC/1.0/ | * |
dc.subject | Current account | ca_CA |
dc.subject | Time series | ca_CA |
dc.subject | Periodic integration | ca_CA |
dc.subject | Periodic cointegration | ca_CA |
dc.title | An analysis of the trade balance for OECD countries using periodic integration and cointegration | ca_CA |
dc.type | info:eu-repo/semantics/article | ca_CA |
dc.identifier.doi | http://dx.doi.org/10.1007/s00181-014-0874-y | |
dc.rights.accessRights | info:eu-repo/semantics/openAccess | ca_CA |
dc.relation.publisherVersion | http://link.springer.com/article/10.1007%2Fs00181-014-0874-y | ca_CA |
dc.type.version | info:eu-repo/semantics/submittedVersion |
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