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dc.contributor.authorFountas, Stilianosen
dc.identifier.citationFountas, S. (1998). "Are the US current account deficits really sustainable?" (Working Paper No. 20) Department of Economics, National University of Ireland, Galway.en
dc.description.abstractWe have tested for a long-run relationship between four US export measures and analogous import measures (measured in nominal and real terms, levels and deflated by GNP) in the 1967-1994 period using quarterly data. Using various econometric tests that include standard Engle-Granger cointegration tests and two tests that allow for test-determined breaks in the cointegrating relationship, we have shown that the hypothesis of no long-run relationship between exports and imports cannot be rejected. This finding contrasts sharply with earlier literature and carries the important policy implication that US current account deficits are not sustainable.en
dc.publisherNational University of Ireland, Galwayen
dc.relation.ispartofseriesEconomics working papers;020en
dc.subjectCurrent account deficitsen
dc.titleAre the US current account deficits really sustainable?en
dc.typeWorking Paperen

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