TY  - JOUR
AU  - Razin,Assaf
TI  - The Dynamic-Optimizing Approach to the Current Account: Theory and Evidence
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 4334
PY  - 1995
Y2  - July 1995
UR  - http://www.nber.org/papers/w4334
L1  - http://www.nber.org/papers/w4334.pdf
N1  - Author contact info:
Assaf Razin
Department of Economics
Cornell University
Uris 422
Ithaca, NY 14853
Tel: 607/255-9625
Fax: 607/255-2818
E-Mail: ar256@cornell.edu
AB  - The organization of this paper is as follows. Section I builds an empirically implementable model of the current account. Likewise, Section II derives the essential time series properties of the real exchange rate. Positive implications of the intertemporal approach against panel and international cross section data are analyzed in Section III. Section IV brings out evidence relevant for the normative implications of the intertemporal approach, highlighting the role of taxes and incentives, capital controls, and convergence of growth rates. Section V concludes.
ER  -