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      On the stationarity of current account deficits in the European Union

      Holmes, Mark J.; Otero, Jesús; Panagiotidis, Theodore
      DOI
       10.1111/j.1467-9396.2010.00896.x
      Link
       onlinelibrary.wiley.com
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      Citation
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      Holmes, M.J., Otero, J. & Panagioidis, T. (2010). On the stationarity of current account deficits in the European Union. Reviews of International Economics, 18(4), 730-740.
      Permanent Research Commons link: https://hdl.handle.net/10289/4755
      Abstract
      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 panel members are stationary, and (ii) the presence of cross-sectional dependence. For this purpose, we employ an AR-based bootstrap approach to the Hadri (2000) test. While there is only mixed evidence that current account stationarity applies when examining individual countries, this does not appear to be the case when considering panels comprising both EU and non-EU members.
      Date
      2010
      Type
      Journal Article
      Publisher
      Wiley-Blackwell
      Collections
      • Management Papers [1101]
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