Current account sustainability in Latin America considering nonlinearities

We test current account sustainability based on the framework developed by Hakkio and Rush [1991] and Husted [1992] using a two-regime threshold vector error correction model. This methodology allows us to characterize short-run nonlinearities in the current account. We estimate the model for four L...

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Detalles Bibliográficos
Autores Principales: Ordoñez-Callamand, Daniel, Melo-Velandia, Luis Fernando, Valencia-Arana, Oscar Mauricio
Formato: Documento de trabajo (Working Paper)
Lenguaje:Inglés (English)
Publicado: Banco de la República de Colombia 2017
Materias:
Acceso en línea:http://repositorio.banrep.gov.co/handle/20.500.12134/6299