Sustainability of external imbalances in the OECD countries

Oscar Bajo-Rubio (), Carmen Diaz-Roldan () and Vicente Esteve
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Vicente Esteve: Universidad de Valencia and Universidad de La Laguna

No 11-07, Working Papers from Asociación Española de Economía y Finanzas Internacionales

Abstract: In this paper, we provide a test of the sustainability of external imbalances in the OECD countries, over the years 1970-2007. Specifically, we deal with the case of those countries that have experienced current account deficits in more than half of the years throughout the period of analysis, and address the recent critique of Bohn (2007) on unit root and cointegration tests of the intertemporal budget constraint.

Keywords: External imbalances; Sustainability; Current account (search for similar items in EconPapers)
JEL-codes: F32 F41 (search for similar items in EconPapers)
Date: 2011-10
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Related works:
Working Paper: Sustainability of external imbalances in the OECD countries (2012)
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Persistent link: http://EconPapers.repec.org/RePEc:aee:wpaper:1107

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