La propuesta intertemporal de la cuenta corriente. Evidencia para la Argentina

Luis N. Lanteri
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Luis N. Lanteri: Universidad Nacional de Buenos Aires

Económica, 1999, vol. XLV, issue 1, 35-71

Abstract: In this paper, we estimate a version of an intertemporal current account model. This model utilizes an econometric approach developed by Campbell and Campbell and Shiller for a closed economy (the permanent income hypothesis of consumption under rational expectations) to test a similar implication for an open economy. The paper uses a model of optimal external borrowing to estimate a time series of the optimal consumption smoothing current account for Argentina. The time series of the optimal current account generated by the model serves as a benchmark against which to judge the actual data.

Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:akh:journl:450

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