Abstract
The intertemporal current account approach is based on an analysis of relation
between domestic savings and investments. In this paper we use intertemporal
approach to the current account and test relationship between the level of
domestic investments and savings in order to see whether they are relevant for
explaining the evolution of the current account of single Eurozone members
during the period of 2000-2009.
We distinguish between The “Old” Eurozone members who entered Eurozone at
the beginning of 1991 and The “New” Eurozone members such as Slovenia,
Slovakia and Estonia who have become members only recently. Such a
comparison enables us to compare development of the balance of payment with
respect to intertemporal approach before and after joining the Eurozone.
References
- Blanchard, Olivier and Giavazzi, Francesco (2002), “Current Account Deficits in the Euro Area. The End of the Feldstein Horioka Puzzle?”, Massachusetts
- Institute of Technology Department of Economics Working Paper Series 03-05. Cambridge: Massachusetts Institute of Technology. Brada, Josef C., Mandel, Martin and Tomšík Vladimír (2008), “Intertemporální přístup k platební bilanci: Vztah míry şspor a míry investic v bohatých, chudých a tranzitivních ekonomikách (Intertemporal Approach to Balance of Payment:
- Relationship Between Saving and Investment Rate in Rich and Poor Countires and Countries in Transition)“, Politická Ekonomie (Political Economics), Vol. 2, pp. 147 – 162. Feldstein, Martin and Horioka, Charles (1979), “Domestic Savings and International Capital Flows”, NBER Working Paper Series No. 310. Cambridge:
- National Bureau of Economic Research. Ghosh, Atish R. (1995): International Capital Mobility Amongst the Major
- Industrialised Countries: Too Little or Too Much?”, The Economic Journal, Vol. , No.428, pp. 107-128
- Grossman, Gene M. and Rogoff, Kenneth (1995), Handbook of International
- Economics, Volume 3, Amsterdam: Elsevier Zemanek, Holger, Belke, Ansgar and Schnabl, Gunther (2010), Current Account
- Balances and Structural Adjustment in the Euro Area, Int Econ Econ Policy Original Paper 7:83-127, Springer Verlag
Abstract
References
- Blanchard, Olivier and Giavazzi, Francesco (2002), “Current Account Deficits in the Euro Area. The End of the Feldstein Horioka Puzzle?”, Massachusetts
- Institute of Technology Department of Economics Working Paper Series 03-05. Cambridge: Massachusetts Institute of Technology. Brada, Josef C., Mandel, Martin and Tomšík Vladimír (2008), “Intertemporální přístup k platební bilanci: Vztah míry şspor a míry investic v bohatých, chudých a tranzitivních ekonomikách (Intertemporal Approach to Balance of Payment:
- Relationship Between Saving and Investment Rate in Rich and Poor Countires and Countries in Transition)“, Politická Ekonomie (Political Economics), Vol. 2, pp. 147 – 162. Feldstein, Martin and Horioka, Charles (1979), “Domestic Savings and International Capital Flows”, NBER Working Paper Series No. 310. Cambridge:
- National Bureau of Economic Research. Ghosh, Atish R. (1995): International Capital Mobility Amongst the Major
- Industrialised Countries: Too Little or Too Much?”, The Economic Journal, Vol. , No.428, pp. 107-128
- Grossman, Gene M. and Rogoff, Kenneth (1995), Handbook of International
- Economics, Volume 3, Amsterdam: Elsevier Zemanek, Holger, Belke, Ansgar and Schnabl, Gunther (2010), Current Account
- Balances and Structural Adjustment in the Euro Area, Int Econ Econ Policy Original Paper 7:83-127, Springer Verlag
Details
| Other ID | JA46AD63CT |
|---|---|
| Journal Section | Articles |
| Authors | |
| Publication Date | December 1, 2011 |
| Published in Issue | Year 2011 Volume: 3 Issue: 2 |