Sustainability of external imbalances in the OECD countries

1. Bajo Rubio, Oscar
2. Díaz Roldán, María del Carmen
3. Esteve, Vicente

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DIALNET GOOGLE SCHOLAR HANDLE: https://hdl.handle.net/10017/19786

More publications in: Documentos de Trabajo (IAES, Instituto Universitario de Análisis Económico y Social)

Abstract

In this paper, we provide a test of the sustainability of external imbalances in the OECD countries over the years 1970-2007, i.e., before the beginning of the international financial crisis. Specifically, we deal with the case of those countries that have experienced current account deficits in more than half of the years throughout the period of analysis, and address the recent critique of Bohn (2007) on unit root and cointegration tests of the intertemporal budget constraint.

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