Structural Change in the External Balances Response to Macroeconomic Policies: Perspective from a Two-Sector New Open Economy Macroeconomic Model
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Obstfeld, Maurice & Rogoff, Kenneth, 1995.
"Exchange Rate Dynamics Redux,"
Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 624-660, June.
- Maurice Obstfeld & Kenneth Rogoff, 1994. "Exchange Rate Dynamics Redux," NBER Working Papers 4693, National Bureau of Economic Research, Inc.
- Obstfeld, Maurice & Rogoff, Kenneth S., 1995. "Exchange Rate Dynamics Redux," Scholarly Articles 12491026, Harvard University Department of Economics.
- Obstfeld, Maurice & Rogoff, Kenneth, 1995. "Exchange Rate Dynamics Redux," Center for International and Development Economics Research (CIDER) Working Papers 233403, University of California-Berkeley, Department of Economics.
- Obstfeld, Maurice & Rogoff, Kenneth, 1995. "Exchange Rate Dynamics Redux," CEPR Discussion Papers 1131, C.E.P.R. Discussion Papers.
- Maurice Obstfeld and Kenneth Rogoff., 1995. "Exchange Rate Dynamics Redux," Center for International and Development Economics Research (CIDER) Working Papers C95-048, University of California at Berkeley.
- Atkeson, Andrew & Ogaki, Masao, 1996.
"Wealth-varying intertemporal elasticities of substitution: Evidence from panel and aggregate data,"
Journal of Monetary Economics, Elsevier, vol. 38(3), pages 507-534, December.
- Atkeson, A. & Ogaki, M., 1991. "Wealth-Varying Intertemporal Elasticities of Substitution Evidence from Panel and Aggregate Data," RCER Working Papers 303, University of Rochester - Center for Economic Research (RCER).
- Masao Ogaki & Carmen M. Reinhart, 1998.
"Measuring Intertemporal Substitution: The Role of Durable Goods,"
Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 1078-1098, October.
- Ogaki, M & Reinhart, C-M, 1995. "Measuring Intertemporal Substitution : The Role of Durable Goods," RCER Working Papers 404, University of Rochester - Center for Economic Research (RCER).
- Reinhart, Carmen & Ogaki, Masao, 1995. "Measuring intertemporal substitution: The role of durable goods," MPRA Paper 13690, University Library of Munich, Germany.
- Chinn, Menzie D. & Lee, Jaewoo, 2009.
"Three current account balances: A "Semi-Structuralist" interpretation,"
Japan and the World Economy, Elsevier, vol. 21(2), pages 202-212, March.
- Menzie D. Chinn & Jaewoo Lee, 2005. "Three Current Account Balances: A "Semi-Structuralist" Interpretation," NBER Working Papers 11853, National Bureau of Economic Research, Inc.
- Jonathan D. Ostry & Carmen M. Reinhart, 1992.
"Private Saving and Terms of Trade Shocks: Evidence from Developing Countries,"
IMF Staff Papers, Palgrave Macmillan, vol. 39(3), pages 495-517, September.
- Reinhart, Carmen & Ostry, Jonathan, 1991. "Private Saving and Terms of Trade Shocks," MPRA Paper 13716, University Library of Munich, Germany.
- Reinhart, Carmen & Ostry, Jonathan, 1992. "Saving and Terms of Trade Shocks: Evidence from Developing Countries," MPRA Paper 6976, University Library of Munich, Germany.
- Okubo, Masakatsu, 2003. "Intratemporal substitution between private and government consumption: the case of Japan," Economics Letters, Elsevier, vol. 79(1), pages 75-81, April.
- Lee, Jaewoo & Chinn, Menzie D., 2006.
"Current account and real exchange rate dynamics in the G7 countries,"
Journal of International Money and Finance, Elsevier, vol. 25(2), pages 257-274, March.
- Menzie David Chinn & Mr. Jaewoo Lee, 2002. "Current Account and Real Exchange Rate Dynamics in the G-7 Countries," IMF Working Papers 2002/130, International Monetary Fund.
- Lee,J. & Chinn,M.D., 2004. "Current account and real exchange rate dynamics in the G-7 countries," Working papers 11, Wisconsin Madison - Social Systems.
- Kurita, Takamitsu, 2010. "Co-breaking, cointegration, and weak exogeneity: Modelling aggregate consumption in Japan," Economic Modelling, Elsevier, vol. 27(2), pages 574-584, March.
- Jonathan D. Ostry & Carmen M. Reinhart, 1992.
"Private Saving and Terms of Trade Shocks: Evidence from Developing Countries,"
IMF Staff Papers, Palgrave Macmillan, vol. 39(3), pages 495-517, September.
- Mr. Jonathan David Ostry & Ms. Carmen Reinhart, 1991. "Private Saving and Terms of Trade Shocks: Evidence From Developing Countries," IMF Working Papers 1991/100, International Monetary Fund.
- Gregory, Allan W. & Hansen, Bruce E., 1996.
"Residual-based tests for cointegration in models with regime shifts,"
Journal of Econometrics, Elsevier, vol. 70(1), pages 99-126, January.
- Allan Gregory & Bruce E. Hansen, 1992. "Residual-based Tests For Cointegration In Models With Regime Shifts," Working Paper 862, Economics Department, Queen's University.
- Gregory, A.W. & Hansen, B.E., 1992. "Residual-Based Tests for Cointegration in Models with Regime Shifts," RCER Working Papers 335, University of Rochester - Center for Economic Research (RCER).
- Masao Ogaki & Andrew Atkeson, 1997.
"Rate Of Time Preference, Intertemporal Elasticity Of Substitution, And Level Of Wealth,"
The Review of Economics and Statistics, MIT Press, vol. 79(4), pages 564-572, November.
- Ogaki, M. & Atkeson, A., 1993. "The Rate of Time Preference, The Intertemporal Elasticity of Substitution, and the leval of Wealth," RCER Working Papers 363, University of Rochester - Center for Economic Research (RCER).
- Ogura, Manami, 2011. "Testing for structural break in Japanese demand system after the bubble era," Structural Change and Economic Dynamics, Elsevier, vol. 22(3), pages 277-286, September.
- Masasaki Fuse, 2004. "Estimating intertemporal substitution in Japan," Applied Economics Letters, Taylor & Francis Journals, vol. 11(4), pages 267-269.
- Elliott, Graham & Rothenberg, Thomas J & Stock, James H, 1996.
"Efficient Tests for an Autoregressive Unit Root,"
Econometrica, Econometric Society, vol. 64(4), pages 813-836, July.
- Graham Elliott & Thomas J. Rothenberg & James H. Stock, 1992. "Efficient Tests for an Autoregressive Unit Root," NBER Technical Working Papers 0130, National Bureau of Economic Research, Inc.
- Tom Doan, "undated". "GLSDETREND: RATS procedure to perform local to unity GLS detrending," Statistical Software Components RTS00077, Boston College Department of Economics.
- Tom Doan, "undated". "ERSTEST: RATS procedure to perform Elliott-Rothenberg-Stock unit root tests," Statistical Software Components RTS00066, Boston College Department of Economics.
- Olivier Blanchard & Roberto Perotti, 2002.
"An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1329-1368.
- Olivier Blanchard & Roberto Perotti, 1999. "An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output," NBER Working Papers 7269, National Bureau of Economic Research, Inc.
- Juha Tervala, 2007. "Fiscal Policy and the Current Account in a Small Open Economy," Finnish Economic Papers, Finnish Economic Association, vol. 20(2), pages 108-120, Autumn.
- Vicente Esteve & Juan Sanchis, "undated". "Estimating the substitutability between private and public consumption: the case of Spain, 1960- 2001," Studies on the Spanish Economy 161, FEDEA.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Julian Thimme, 2017. "Intertemporal Substitution In Consumption: A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 31(1), pages 226-257, February.
- Jonathan Temple & Huikang Ying & Patrick Carter, 2014. "Transfers and Transformations: Remittances, Foreign Aid, and Growth," Bristol Economics Discussion Papers 14/649, School of Economics, University of Bristol, UK, revised 02 Dec 2014.
- Paul Cashin & C. John McDermott, 2003. "Intertemporal Substitution and Terms‐of‐Trade Shocks," Review of International Economics, Wiley Blackwell, vol. 11(4), pages 604-618, September.
- Mr. Paul Cashin & Mr. C. John McDermott, 1998.
"Terms of Trade Shocks and the Current Account,"
IMF Working Papers
1998/177, International Monetary Fund.
- Cashin, P. & McDermott, C.J., 1999. "Terms of Trade Shocks and the Current Account," Department of Economics - Working Papers Series 678, The University of Melbourne.
- Masao Ogaki & Jonathan D. Ostry & Carmen M. Reinhart, 1996.
"Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison,"
IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 38-71, March.
- Masao Ogaki & Mr. Jonathan David Ostry & Ms. Carmen Reinhart, 1995. "Saving Behavior in Low and Middle-Income Developing Countries: A Comparison," IMF Working Papers 1995/003, International Monetary Fund.
- Reinhart, Carmen & Ogaki, Masao & Ostry, Jonathan, 1996. "Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison," MPRA Paper 6978, University Library of Munich, Germany.
- Reinhart, Carmen & Ogaki, Masao & Ostry, Jonathan, 1995. "Saving behavior in low- and middle-income developing countries," MPRA Paper 13757, University Library of Munich, Germany.
- Min Lu, 2012. "Current account dynamics and optimal monetary policy in a two-country economy," International Journal of Monetary Economics and Finance, Inderscience Enterprises Ltd, vol. 5(3), pages 299-324.
- Masakatsu Okubo, 2011. "The Intertemporal Elasticity of Substitution: An Analysis Based on Japanese Data," Economica, London School of Economics and Political Science, vol. 78(310), pages 367-390, April.
- Coeurdacier, Nicolas, 2009.
"Do trade costs in goods market lead to home bias in equities?,"
Journal of International Economics, Elsevier, vol. 77(1), pages 86-100, February.
- Nicolas Coeurdacier, 2006. "Do trade costs in goods market lead to home bias in equities?," 2006 Meeting Papers 111, Society for Economic Dynamics.
- Nicolas Coeurdacier, 2009. "Do trade costs in goods market lead to home bias in equities?," Post-Print hal-03602479, HAL.
- Coeurdacier, Nicolas, 2006. "Do Trade Costs in Goods Market Lead to Home Bias in Equities?," ESSEC Working Papers DR 06011, ESSEC Research Center, ESSEC Business School.
- Coeurdacier, Nicolas, 2008. "Do Trade Costs in Goods Market Lead to Home Bias in Equities?," CEPR Discussion Papers 6991, C.E.P.R. Discussion Papers.
- Cardi, Olivier & Restout, Romain & Claeys, Peter, 2020.
"Imperfect mobility of labor across sectors and fiscal transmission,"
Journal of Economic Dynamics and Control, Elsevier, vol. 111(C).
- Olivier CARDI & Peter CLAEYS & Romain RESTOUT, 2016. "Imperfect Mobility Of Labor Across Sectors And Fiscal Transmission," LEO Working Papers / DR LEO 2427, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
- Olivier Cardi & Romain Restout & Peter Claeys, 2018. "Imperfect mobility of labor across sectors and fiscal transmission," Working Papers 244952353, Lancaster University Management School, Economics Department.
- Olivier Cardi & Peter Claeys & Romain Restout, 2016. "Imperfect Mobility Of Labor Across Sectors And Fiscal Transmission," Working Papers of BETA 2016-39, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Olivier CARDI & Peter CLAEYS & Romain RESTOUT, 2017. "Imperfect mobility of labor across sectors and fiscal transmission," LIDAM Discussion Papers IRES 2017015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Olivier Cardi & Romain Restout & Peter Claeys, 2019. "Imperfect mobility of labor across sectors and fiscal transmission," Working Papers hal-02400991, HAL.
- Joscha Beckmann & Robert Czudaj, 2017.
"Effective Exchange Rates, Current Accounts and Global Imbalances,"
Review of International Economics, Wiley Blackwell, vol. 25(3), pages 500-533, August.
- Beckmann, Joscha & Czudaj, Robert, 2014. "Effective exchange rates, current accounts and global imbalances," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100364, Verein für Socialpolitik / German Economic Association.
- Beckmann, Joscha & Czudaj, Robert, 2016. "Effective exchange rates, current accounts and global imbalances," Ruhr Economic Papers 610, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
- Nidhaleddine Ben Cheikh & Christophe Rault, 2016.
"Recent estimates of exchange rate pass-through to import prices in the euro area,"
Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 152(1), pages 69-105, February.
- Nidhaleddine Ben Cheikh & Christophe Rault, 2016. "Recent estimates of exchange rate pass-through to import prices in the euro area," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 152(1), pages 69-105, February.
- Nidhaleddine Ben Cheikh & Christophe Rault, 2014. "Recent Estimates of Exchange Rate Pass-Through to Import Prices in the Euro Area," William Davidson Institute Working Papers Series wp1080, William Davidson Institute at the University of Michigan.
- Nidhaleddine Ben Cheikh & Christophe Rault, 2016. "Recent estimates of exchange rate pass-through to import prices in the euro area," Post-Print hal-03533135, HAL.
- Nidhaleddine BEN CHEIKH & Christophe RAULT, 2015. "Recent Estimates of Exchange Rate Pass-Through to Import Prices in the Euro Area," LEO Working Papers / DR LEO 2234, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
- Nidhaleddine Ben Cheikh & Christophe Rault, 2015. "Recent Estimates of Exchange Rate Pass-Through to Import Prices in the Euro Area," Working Papers halshs-01252130, HAL.
- Nidhaleddine Ben Cheikh & Christophe Rault, 2015. "Recent Estimates of Exchange Rate Pass-Through to Import Prices in the Euro Area," CESifo Working Paper Series 5341, CESifo.
- Dutta, Dilip & Yang, Yibai, 2012.
"Endogenous time preference: evidence from Australian households' behaviour,"
Working Papers
2012-07, University of Sydney, School of Economics.
- Dutta, Dilip & Yang, Yibai, 2013. "Endogenous time preference: evidence from Australian households' behaviour," Working Papers 2013-13, University of Sydney, School of Economics.
- Yaya Keho, 2011. "Long‐Run Determinants Of Savings Rates In Waemu Countries: An Empirical Assessment From Ardl Bounds Testing Approach," South African Journal of Economics, Economic Society of South Africa, vol. 79(3), pages 312-329, September.
- Tomáš Havránek, 2015. "Measuring Intertemporal Substitution: The Importance Of Method Choices And Selective Reporting," Journal of the European Economic Association, European Economic Association, vol. 13(6), pages 1180-1204, December.
- Reinhart, Carmen & Vegh, Carlos, 1994.
"Inflation stabilization in chronic inflation countries: The empirical evidence,"
MPRA Paper
13689, University Library of Munich, Germany.
- Reinhart, Carmen & Vegh, Carlos, 1999. "Do Exchange Rate-Based Stabilizations Carry the Seeds of Their Own Destruction?," MPRA Paper 8952, University Library of Munich, Germany.
- Reinhart, Carmen & Vegh, Carlos, 1994. "Intertemporal consumption substitution and inflation stabilization:An empirical investigation," MPRA Paper 13427, University Library of Munich, Germany.
- Joscha Beckmann & Ansgar Belke & Michael Kühl, 2011. "The dollar-euro exchange rate and macroeconomic fundamentals: a time-varying coefficient approach," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 147(1), pages 11-40, April.
- Masao Ogaki & Carmen M. Reinhart, 1998.
"Measuring Intertemporal Substitution: The Role of Durable Goods,"
Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 1078-1098, October.
- Reinhart, Carmen & Ogaki, Masao, 1995. "Measuring intertemporal substitution: The role of durable goods," MPRA Paper 13690, University Library of Munich, Germany.
- Ogaki, M & Reinhart, C-M, 1995. "Measuring Intertemporal Substitution : The Role of Durable Goods," RCER Working Papers 404, University of Rochester - Center for Economic Research (RCER).
- Roberto Duncan, 2003. "The Harberger-Laursen-Metzler Effect Revisited: An Indirect-Utility-Function Approach," Working Papers Central Bank of Chile 250, Central Bank of Chile.
- Reinhart, Carmen M. & Talvi, Ernesto, 1998.
"Capital flows and saving in Latin America and Asia: a reinterpretation,"
Journal of Development Economics, Elsevier, vol. 57(1), pages 45-66, October.
- Reinhart, Carmen & Talvi, Ernesto, 1998. "Capital flows and saving in Latin America and Asia: A reinterpretation," MPRA Paper 13704, University Library of Munich, Germany.
- Tahir Mukhtar & Aliya H. Khan, 2011. "The Current Account Dynamics in Pakistan: An Intertemporal Optimisation Perspective," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 50(4), pages 401-421.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:reviec:v:21:y:2013:i:5:p:1021-1031. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0965-7576 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.