On the sustainability of the EU's current account deficits

In this paper, we test for the stationarity of EU current account deficits. Our testing strategy addresses two key concerns with regard to unit root panel data testing, namely (i) the identification of which members-states are stationary, and (ii) the presence of cross-sectional dependence. For this...

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Bibliographic Details
Main Authors: Mark J. Holmes, Jesus Otero, Theodore Panagiotidis
Format: Default Preprint
Published: 2007
Subjects:
Other economics not elsewhere classified
Heterogeneous dynamic panels
Current account sustainability
Panel stationarity test
Mean reversion
Economics not elsewhere classified
Online Access:https://hdl.handle.net/2134/2744
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https://hdl.handle.net/2134/2744

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