On the Solvency of Nations : Are Global Imbalances Consistent with Intertemporal Budget Constraints? /
Theory predicts that a nation's stochastic intertemporal budget constraint is satisfied if net exports (NX) and net foreign assets (NFA) satisfy an error-correction specification with a residual integrated of any finite order. We test this hypothesis using data for 21 industrial and 29 emerging...
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| Otros Autores: | , |
| Formato: | Revista |
| Lenguaje: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2010.
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| Colección: | IMF Working Papers; Working Paper ;
No. 2010/050 |
| Acceso en línea: | Full text available on IMF |