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Current Account and Macroeconomic Fluctuations

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  • Vredin, Anders
  • Warne, Anders

Abstract

The primary purpose of this study is to establish some "stylized facts" about current account and macroeconomic fluctuations in Sweden. Another purpose is to propose a multivariate detrending technique that is based on a time-series model with common, stochastic trends. This technique should be useful for establishing stylized facts about macroeconomic fluctuations in general. The descriptive statistics in this analysis are, thus, confined to the transitory components of the time series. In contrast with results obtained for other countries, the authors find, e.g., that the current account is procyclical. Copyright 1991 by The editors of the Scandinavian Journal of Economics.

Suggested Citation

  • Vredin, Anders & Warne, Anders, 1991. "Current Account and Macroeconomic Fluctuations," Scandinavian Journal of Economics, Wiley Blackwell, vol. 93(4), pages 511-530.
    • Handle: RePEc:bla:scandj:v:93:y:1991:i:4:p:511-30
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    Cited by:

    1. Philip Bodman, 1997. "The Australian Trade Balance and Current Account: a Time Series Perspective," International Economic Journal, Taylor & Francis Journals, vol. 11(2), pages 39-57.
    2. Tor Jacobson & Per Jansson & Anders Vredin & Anders Warne, 2001. "Monetary policy analysis and inflation targeting in a small open economy: a VAR approach," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(4), pages 487-520.
    3. Vlaar, Peter J.G., 2007. "GDP growth and currency valuation: The case of the dollar," Journal of International Money and Finance, Elsevier, vol. 26(8), pages 1424-1449, December.
    4. Shibata, Akihisa & Shintani, Mototsugu, 1998. "Capital mobility in the world economy: an alternative test," Journal of International Money and Finance, Elsevier, vol. 17(5), pages 741-756, October.
    5. Apergis, Nicholas & Tsoumas, Chris, 2009. "A survey of the Feldstein-Horioka puzzle: What has been done and where we stand," Research in Economics, Elsevier, vol. 63(2), pages 64-76, June.
    6. Jacobson, Tor & Jansson, Per & Vredin, Anders & Warne, Anders, 1999. "A VAR Model for Monetary Policy Analysis in a Small Open Economy," Working Paper Series 77, Sveriges Riksbank (Central Bank of Sweden).
    7. Schlitzer, Giuseppe, 1996. "Business cycles in Italy: A statistical investigation," European Journal of Political Economy, Elsevier, vol. 11(4), pages 683-698, April.

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