Coverart for item
The Resource Sustainability of external imbalances : a critical appraisal, Angélique Herzberg ; with a preface by Prof. Dr. Heinz-Dieter Smeets

Sustainability of external imbalances : a critical appraisal, Angélique Herzberg ; with a preface by Prof. Dr. Heinz-Dieter Smeets

Label
Sustainability of external imbalances : a critical appraisal
Title
Sustainability of external imbalances
Title remainder
a critical appraisal
Statement of responsibility
Angélique Herzberg ; with a preface by Prof. Dr. Heinz-Dieter Smeets
Creator
Subject
Language
eng
Summary
Since the mid-1990s, sustainability of large and persistent current account positions have been attracting much attention from policy makers and economists alike. Alongside global imbalances, sustainability of imbalances within the euro area, which started widening shortly after the introduction of the euro, raised much concern. While there exists a large body of theoretical and empirical literature on sustainability of external imbalances, a systematic survey has been lacking so far. Angelique Herzberg fills this gap by examining a broad range of established sustainability measures concerning
http://library.link/vocab/creatorName
Herzberg, Angélique,
Dewey number
339.2
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/subjectName
  • Macroeconomics
  • Economic development
  • Externalities (Economics)
Label
Sustainability of external imbalances : a critical appraisal, Angélique Herzberg ; with a preface by Prof. Dr. Heinz-Dieter Smeets
Instantiates
Publication
Copyright
Note
"Dissertation Heinrich-Heine-Universität Düsseldorf, 2013."
Antecedent source
unknown
Bibliography note
Includes bibliographical references
Color
multicolored
Contents
  • Preface; Acknowledgments; Contents; 1 Introduction; 1.1 Motivation and aim of the study; 1.2 Preliminaries: defining the main concepts; 1.2.1 External imbalances; 1.2.2 Sustainability concepts; 1.3 Outline of the study; 2 Digression on balance of payments accounting identities; 2.1 Accounting identity based on trade balance and income balances; 2.2 Accounting identity based on income and absorption; 2.3 Accounting identity based on saving and investment; 2.4 Combining accounting identities; 3 Intertemporal budget constraint as a sustainability criterion
  • 3.1 Long-run budget constraint in the intertemporal approach to the current account3.1.1 Description of the model economy; 3.1.2 Single-period budget constraint; 3.1.3 Intertemporal budget constraint in the deterministic setting; 3.1.4 Specific intertemporal budget constraint in the stochastic setting; 3.2 Intertemporal budget constraint in a general-equilibrium model; 3.2.1 Characteristics of the model economy and the representative agent's maximization problem; 3.2.2 General intertemporal budget constraint
  • 3.2.3 Comparison of the general intertemporal budget constraint to the specific intertemporal budget constraint3.3 Discussion of the theoretical framework; 3.4 Conclusion; Appendix to Chapter 3; 3.A Appendix to subsection 3.1.3; 3.A.1 Recursive substitution method; 3.A.2 Telescoping Argument; 3.B Appendix to subsection 3.2.2; 4 Empirical implications of the intertemporal budget constraint; 4.1 Sufficient conditions for the strong notion of sustainability; 4.1.1 Stationarity of the NIIP and the trade balance; 4.1.2 First-difference-stationarity of the NIIP
  • 4.1.3 Cointegration between current account components4.1.4 Conclusion; 4.2 Sufficient conditions for the strong and weak notions of sustainability; 4.2.1 Difference-stationarity of the NIIP of any order; 4.2.2 Responsiveness of the trade account to the NIIP; 4.3 Conclusion; Appendix to Chapter 4; 4.A Appendix to subsubsection 4.2.2.1; 4.B Appendix to subsubsection 4.2.2.2; 5 Empirical studies on the validity of the intertemporal budget constraint; 5.1 Testing for stationarity of the NIIP and the current account; 5.1.1 Overview; 5.1.2 Linear univariate unit root tests
  • 5.1.3 Linear panel-based unit root tests5.1.4 Nonlinear unit root tests; 5.2 Testing for cointegration between the components of the current account; 5.2.1 Overview; 5.2.2 Two-step Engle-Granger methodology; 5.2.3 Error-correction model tests; 5.2.4 Autoregressive distributed lag bounds test; 5.2.5 Gregory-Hansen test with structural breaks; 5.2.6 Johansen methodology; 5.2.7 Panel cointegration tests; 5.3 Testing for the responsiveness of the trade account to the NIIP; 5.3.1 Wickens and Uctum's (1993) approach; 5.3.2 Multicointegration approach; 5.3.3 Bohn's (2007) approach; 5.4 Conclusion
Control code
ocn890320063
Dimensions
unknown
Extent
1 online resource (xi, 329 pages)
File format
unknown
Form of item
online
Isbn
9783658070915
Level of compression
unknown
Other physical details
illustrations
Quality assurance targets
not applicable
Reformatting quality
unknown
Sound
unknown sound
Specific material designation
remote
System control number
(OCoLC)890320063
Label
Sustainability of external imbalances : a critical appraisal, Angélique Herzberg ; with a preface by Prof. Dr. Heinz-Dieter Smeets
Publication
Copyright
Note
"Dissertation Heinrich-Heine-Universität Düsseldorf, 2013."
Antecedent source
unknown
Bibliography note
Includes bibliographical references
Color
multicolored
Contents
  • Preface; Acknowledgments; Contents; 1 Introduction; 1.1 Motivation and aim of the study; 1.2 Preliminaries: defining the main concepts; 1.2.1 External imbalances; 1.2.2 Sustainability concepts; 1.3 Outline of the study; 2 Digression on balance of payments accounting identities; 2.1 Accounting identity based on trade balance and income balances; 2.2 Accounting identity based on income and absorption; 2.3 Accounting identity based on saving and investment; 2.4 Combining accounting identities; 3 Intertemporal budget constraint as a sustainability criterion
  • 3.1 Long-run budget constraint in the intertemporal approach to the current account3.1.1 Description of the model economy; 3.1.2 Single-period budget constraint; 3.1.3 Intertemporal budget constraint in the deterministic setting; 3.1.4 Specific intertemporal budget constraint in the stochastic setting; 3.2 Intertemporal budget constraint in a general-equilibrium model; 3.2.1 Characteristics of the model economy and the representative agent's maximization problem; 3.2.2 General intertemporal budget constraint
  • 3.2.3 Comparison of the general intertemporal budget constraint to the specific intertemporal budget constraint3.3 Discussion of the theoretical framework; 3.4 Conclusion; Appendix to Chapter 3; 3.A Appendix to subsection 3.1.3; 3.A.1 Recursive substitution method; 3.A.2 Telescoping Argument; 3.B Appendix to subsection 3.2.2; 4 Empirical implications of the intertemporal budget constraint; 4.1 Sufficient conditions for the strong notion of sustainability; 4.1.1 Stationarity of the NIIP and the trade balance; 4.1.2 First-difference-stationarity of the NIIP
  • 4.1.3 Cointegration between current account components4.1.4 Conclusion; 4.2 Sufficient conditions for the strong and weak notions of sustainability; 4.2.1 Difference-stationarity of the NIIP of any order; 4.2.2 Responsiveness of the trade account to the NIIP; 4.3 Conclusion; Appendix to Chapter 4; 4.A Appendix to subsubsection 4.2.2.1; 4.B Appendix to subsubsection 4.2.2.2; 5 Empirical studies on the validity of the intertemporal budget constraint; 5.1 Testing for stationarity of the NIIP and the current account; 5.1.1 Overview; 5.1.2 Linear univariate unit root tests
  • 5.1.3 Linear panel-based unit root tests5.1.4 Nonlinear unit root tests; 5.2 Testing for cointegration between the components of the current account; 5.2.1 Overview; 5.2.2 Two-step Engle-Granger methodology; 5.2.3 Error-correction model tests; 5.2.4 Autoregressive distributed lag bounds test; 5.2.5 Gregory-Hansen test with structural breaks; 5.2.6 Johansen methodology; 5.2.7 Panel cointegration tests; 5.3 Testing for the responsiveness of the trade account to the NIIP; 5.3.1 Wickens and Uctum's (1993) approach; 5.3.2 Multicointegration approach; 5.3.3 Bohn's (2007) approach; 5.4 Conclusion
Control code
ocn890320063
Dimensions
unknown
Extent
1 online resource (xi, 329 pages)
File format
unknown
Form of item
online
Isbn
9783658070915
Level of compression
unknown
Other physical details
illustrations
Quality assurance targets
not applicable
Reformatting quality
unknown
Sound
unknown sound
Specific material designation
remote
System control number
(OCoLC)890320063

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