Current Account Equation and Intertemporal Solvency Condition
Intertemporal solvency of Turkey’s current account
... present solvency of Turkey’s current account ...Large current account deficits can indicate a lack of ...High current account deficits have been associated with crises in ...
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Sustainability of Current Account for Turkey: Intertemporal Solvency Approach
... the current account may not be considered bad, since they may reflect reallocation of capital from one country to ...increasing current account deficit implies measures such as increasing ...
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Intertemporal Modeling of the Current Account
... the Current Account Abstract This paper explores the long-run current account to GDP ratio in the present value model framework ...Euler equation at macro level to identify a general ...
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Intertemporal modeling of the current account
... stability condition, and by postulating a “patient” economy, which saves more than an “impatient” economy, the economy can tend to realize surpluses in its current ...
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Islamic Theoretical Intertemporal Model of the Current Account
... Islamic intertemporal model of the current account based on the prevailing theoretical and empirical literature of PVMCA (Obstfeld & Rogoff 1996, Cerrato et ...of intertemporal substitution ...
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An Intertemporal Benchmark Model for Turkey’s Current Account
... An Intertemporal Benchmark Model for Turkey’s Current Account ∗ ∗∗ ∗ Abstract In this paper, we analyze the Turkish current account between 1992 and 2004 within an intertemporal ...
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A Structural VAR Approach to the Intertemporal Model of the Current Account
... the intertemporal approach and its well-known closed-form solution, the PVM of the current account, jointly provide a new identification scheme for an ...the intertemporal approach gives the ...
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The Intertemporal Approach to the Current Account: Evidence from Argentina.
... the intertemporal budget constraint and its log-linearization. This condition says that if net output is expected to fall, the current account will rise as the representative household smooths ...
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An Intertemporal Assessment of Kenya s Current Account Deficits
... The intertemporal approach can be divided into two versions (Camarero et al, ...the intertemporal solvency approach while the second is the intertemporal sustainability ...intertemproal ...
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Intertemporal approach to current account: small open economy
... No-Ponzi condition: in…nite horizon Intuitively and in parallel with the …nite horizon case, we could guess that now the No-Ponzi condition reads as follows: lim T ! ∞ B t + T + 1 = 0 The guess is ...
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UK Current Account Sustainability in the Post Brexit Era: Insights from an Intertemporal Current Account Framework
... the current account balance and net foreign debt at sustainable ...The intertemporal framework dis- cussed in the previous section indicated that current account balances would be ...
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Long Run Current Account through theoretical Intertemporal Model
... stability condition of the output path, we have . Assuming current account surplus, we get and ...the equation has a negative ...capita current account to per capita output ...in ...
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Futures Markets, Oil Prices and the Intertemporal Approach to the Current Account
... 25 Equation (14) suggests that the variation in the futures basis comes only from expected spot price movements (E t p c,t+n − p c,t ), since the risk premium is assumed to be ...
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Analyzing the Sustainability of Current Account in ASEAN Countries: Test of Intertemporal Borrowing Constraints
... test; current account; solvency JEL Classifications: C23; F30; F32 ...of current account has been receiving increasing attention from ...Since current account represents ...
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New Zealand's Current Account Deficit: Analysis based on the Intertemporal Optimisation Approach
... external solvency conditions having been satisfied and optimal consumption smoothing not being rejected, the point estimate evidence from the variance ratio of actual to model implied (consumption smoothed) ...
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ISSN Working Paper Series. An Econometric Contribution to the Intertemporal Approach of the Current Account
... an intertemporal optimization model to analyze the current account through Campbell & Shiller’s (1987) ...the current account for a set of ...necessary condition to perform ...
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Is Malaysia’s Current Account Balance Sustainable? Evidence from Inter-Temporal Solvency Model
... the current account deficits in East Asian countries (Indonesia, Korea, Malaysia, Philippines, Thailand, Singapore and Taiwan) were sustainable in order to predict the currency crisis these countries ...
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Current Account and Budget Deficits in an Intertemporal Model of Consumption and Taxation Smoothing. A Solution to the "Feldstein-Horioka Puzzle"?
... The "Feldstein—Horioka paradox" might then be due to this misspecification of the equation determining the current account (and/or the savings behavior). This observation suggest[r] ...
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International Intertemporal Solvency in OECD Countries: Evidence From Panel Unit Root
... of current account for 22 OECD countries during the period 1960 – ...usual intertemporal borrowing constraint, we have tested the stationarity of current account ...that current ...
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International Intertemporal Solvency in OECD Countries: Evidence From Panel Unit Root
... of current account for 22 OECD countries during the period 1960 – ...usual intertemporal borrowing constraint, we have tested the stationarity of current account ...that current ...
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