Publication
Long-run relationship between exports and imports : current account sustainability tests for the EU
| dc.contributor.author | Afonso, António | |
| dc.contributor.author | Huart, Florence | |
| dc.contributor.author | Jalles, João Tovar | |
| dc.contributor.author | Stanek, Piotr | |
| dc.date.accessioned | 2019-11-12T10:57:21Z | |
| dc.date.available | 2019-11-12T10:57:21Z | |
| dc.date.issued | 2019-11 | |
| dc.description.abstract | We assess the sustainability of external imbalances for EU countries using panel stationarity tests of Current Account (CA) balance-to-GDP ratios and panel cointegration of exports and imports of goods and services, for the period 1970Q1-2015Q4. We find that: i) the country panel is non-stationary; ii) cross-sectional dependence plays an important role; iii) there is non-stationarity of the CA, imports, and exports with cross-sectional panel dependence and multiple structural breaks; iv) however, there is a stable long-run relationship between exports and imports in the panel. Hence, trade imbalances can be less unsustainable but this is not sufficient to make current account imbalances sustainable. | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | Afonso, António ... [et al.] (2019). "Long-run relationship between exports and imports : current account sustainability tests for the EU". Instituto Superior de Economia e Gestão – REM Working paper nº 099 - 2019 | pt_PT |
| dc.identifier.issn | 2184-108X | |
| dc.identifier.uri | http://hdl.handle.net/10400.5/18617 | |
| dc.language.iso | eng | pt_PT |
| dc.peerreviewed | yes | pt_PT |
| dc.publisher | ISEG - REM - Research in Economics and Mathematics | pt_PT |
| dc.relation | Research Unit on Complexity and Economics | |
| dc.relation.ispartofseries | REM Working paper;nº 099 - 2019 | |
| dc.relation.publisherversion | https://rem.rc.iseg.ulisboa.pt/wps/pdf/REM_WP_099_2019.pdf | pt_PT |
| dc.subject | current account | pt_PT |
| dc.subject | exports | pt_PT |
| dc.subject | imports, | pt_PT |
| dc.subject | unit roots | pt_PT |
| dc.subject | cointegration | pt_PT |
| dc.title | Long-run relationship between exports and imports : current account sustainability tests for the EU | pt_PT |
| dc.type | working paper | |
| dspace.entity.type | Publication | |
| oaire.awardTitle | Research Unit on Complexity and Economics | |
| oaire.awardURI | info:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UID%2FECO%2F00436%2F2019/PT | |
| oaire.fundingStream | 6817 - DCRRNI ID | |
| project.funder.identifier | http://doi.org/10.13039/501100001871 | |
| project.funder.name | Fundação para a Ciência e a Tecnologia | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | workingPaper | pt_PT |
| relation.isProjectOfPublication | 114e3eaf-ddc7-4e6f-aee9-efb1c6aa7b85 | |
| relation.isProjectOfPublication.latestForDiscovery | 114e3eaf-ddc7-4e6f-aee9-efb1c6aa7b85 |