Autori
Girardi, AlessandroPaesani, PaoloTitolo
Net foreign assets in the Euro Area: a cointegration analysisPeriodico
Università degli Studi di Roma "La Sapienza" - Dipartimento di Economia Pubblica. Working PaperAnno:
2005 - Volume:
1 - Fascicolo:
76 - Pagina iniziale:
1 - Pagina finale:
29This paper discusses the macroeconomics of NFA at the Euro Area level, making use of the cointegrated VAR methodology. The wish to
contribute to the literature on EMU motivates the choice of the topic; the
non-stationarity of the data explains the choice of the methodology. The main conclusion of the paper is that, as far as Net Foreign Assets are concerned, the use of synthetic Euro area aggregate data yields a series of results consistent with economic theory. Real growth and exchange rate
appreciation are both consistent with NFA accumulation. Portfolio adjustment considerations appear also to be important.
SICI: 1974-2940(2005)1:76<1:NFAITE>2.0.ZU;2-Y
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http://dep.eco.uniroma1.it/docs/working_papers/WP76.pdfEsportazione dati in Refworks (solo per utenti abilitati)
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