Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.5/2153
Título: Budgetary and external imbalances relationship : a panel data diagnostic
Autor: Afonso, António
Rault, Christophe
Palavras-chave: budget balance
external balance
EU
panel cointegration
Data: Nov-2008
Editora: European Central Bank
Citação: Afonso, António e Christophe Rault. 2008. "Budgetary and external imbalances relationship : a panel data diagnostic". European Central Bank working paper series nº 961-2008
Relatório da Série N.º: European Central Bank working paper series;nº 961-2008
Resumo: We assess the cointegration relationship between current account and budget balances, and effective real exchange rates, using recent bootstrap panel cointegration techniques and SUR methods. We investigate the magnitude of the relationship between the two imbalances for each country for the period 1970-2007, and for different EU and OECD country groupings. The panel cointegration tests used allow for within and between correlation, while the SUR results show both positive and negative effects of budget balances on current account balances for several countries. The magnitude of the effects varies across countries, and there is no evidence pointing to a direct and close relationship between budgetary and current account balances.
URI: http://hdl.handle.net/10400.5/2153
ISSN: 1725-2806
Versão do Editor: http://www.ecb.int/pub/pdf/scpwps/ecbwp961.pdf
Aparece nas colecções:DE - Documentos de trabalho / Working Papers

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