Series: Occasional Papers
Author(s): Alessandro Prati , Luca Ricci , Lone Engbo Christiansen , Stephen Tokarick , and Thierry Tressel
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 15 March 2011
Keywords: External sector, Low-income developing countries, Real effective exchange rates, exchange rate, current account, real exchange rate, foreign assets, net foreign assets
2 The variables in the regressions are generally stationary. Also, the current account needs to be stationary for the intertemporal budget constraint to hold (Ghosh...