Asymmetric Dynamics in the Current Account: Evidence from Long-Horizon Data

Ibrahim Chowdhury, Gregory Gadzinski and Mathias Hoffmann ()

No 13, Working Paper Series in Economics from University of Cologne, Department of Economics

Abstract: This letter investigates the presence of asymmetric dynamics in the behaviour of the current account as emphasized in recent theoretical contributions. We estimate a Markov switching model for long-horizon current account to GDP data for six countries and find substantial asymmetries in the behaviour of current account dynamics.

Keywords: Current account dynamics and sustainability; Markovswitching (search for similar items in EconPapers)
JEL-codes: C22 F32 (search for similar items in EconPapers)
Date: 2004-09-27
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