Jackknife Model Averaging of the Current Account Determinants

Milan Nedeljkovic, Branko Uroševic and Emir Zildžovic
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Milan Nedeljkovic: National Bank of Serbia
Branko Uroševic: National Bank of Serbia
Emir Zildžovic: National Bank of Serbia

Working papers from National Bank of Serbia

Abstract: This paper investigates the short to medium-term empirical relationships between the current account balances and a broad set of macroeconomic determinants in Serbia and selected CEE countries. Using novel model averaging techniques we focus the analysis to individual country’s data only. The results suggest that the model tracks the current account movements over the past decade quite well and captures its relative volatility. Signs and magnitudes of different coefficients indicate significant heterogeneity among countries providing empirical support for the country-level analysis.

Keywords: Current account; Model averaging; Transition countries (search for similar items in EconPapers)
JEL-codes: F32 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2012-07
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Persistent link: https://EconPapers.repec.org/RePEc:nsb:wppnbs:23

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