Current Account and Real Exchange Rate Dynamics in the G-7 Countries /

The canonical predictions of intertemporal open-economy macro models are tested by a structural VAR analysis of Group of Seven countries. The analysis is distinguished from the previous literature in that it adopts minimal assumptions for identification. Consistent with a large set of theoretical mo...

Ausführliche Beschreibung

Bibliographische Detailangaben
1. Verfasser: Chinn, Menzie
Weitere Verfasser: Lee, Jaewoo
Format: Zeitschrift
Sprache:English
Veröffentlicht: Washington, D.C. : International Monetary Fund, 2002.
Schriftenreihe:IMF Working Papers; Working Paper ; No. 2002/130
Online Zugang:Full text available on IMF
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245 1 0 |a Current Account and Real Exchange Rate Dynamics in the G-7 Countries /  |c Menzie Chinn, Jaewoo Lee. 
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300 |a 1 online resource (22 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a The canonical predictions of intertemporal open-economy macro models are tested by a structural VAR analysis of Group of Seven countries. The analysis is distinguished from the previous literature in that it adopts minimal assumptions for identification. Consistent with a large set of theoretical models, permanent shocks have large long-term effects on the real exchange rate but relatively small effects on the current account; temporary shocks have large effects on the current account and exchange rate in the short run, but not on either variable in the long run. The signs of some impulse responses point toward models that differentiate tradables and nontradables. 
538 |a Mode of access: Internet 
700 1 |a Lee, Jaewoo. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2002/130 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2002/130/001.2002.issue-130-en.xml  |z IMF e-Library