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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2478

Title: Budgetary and External Imbalances Relationship : a Panel Data Diagnostic
Authors: Afonso, António
Rault, Christophe
Keywords: budget balance
external balance
EU
panel cointegration
Issue Date: 2008
Publisher: ISEG – Departamento de Economia
Citation: Afonso, António e Christophe Rault. 2008. "Budgetary and External Imbalances Relationship : a Panel Data Diagnostic". Instituto Superior de Economia e Gestão - DE Working papers nº 45-2008/DE/UECE
Series/Report no.: DE Working papers;nº 45-2008/DE/UECE
Abstract: 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/10400.5/2478
ISSN: 0874-4548
Publisher version: https://aquila1.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=26546
Appears in Collections:UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers

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