The Dynamic-Optimizing Approach to the Current Account: Theory and Evidence

Assaf Razin

No 4334, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The organization of this paper is as follows. Section I builds an empirically implementable model of the current account. Likewise, Section II derives the essential time series properties of the real exchange rate. Positive implications of the intertemporal approach against panel and international cross section data are analyzed in Section III. Section IV brings out evidence relevant for the normative implications of the intertemporal approach, highlighting the role of taxes and incentives, capital controls, and convergence of growth rates. Section V concludes.

JEL-codes: J13 J22 (search for similar items in EconPapers)
Date: 1993-04
Note: IFM
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (53)

Published as Understanding Interdependence: The Macroeconomics of Open Economy, Peter B. Kenen, ed., Princeton University, 1995, pp. 169-198.

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Working Paper: The Dynamic-Optimizing Approach to the Current Account: Theory and Evidence (1993)
Working Paper: The Dynamic-Optimizing Approach to the Current Account: Theory and Evidence (1993)
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