Empirica – Journal of European Economics

Sponsored by the Austrian Economic Association and the Austrian Institute of Economic Research

Empirica publishes empirical and theoretical work on all economic aspects of European Integration. The topics may range from all challenges concerning the deepening of the European Union (Single Market, Lisbon Agenda, EMU) to enlargement and the external relations of the EU (globalisation).

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Juan Carlos Cuestas, Mercedes Monfort
Current account sustainability in Central and Eastern Europe: structural change and crisis
Empirica, 2021, 48(1), S.141-153, http://www.springer.com/10663
In this paper we analyse the evolution of the current account as a percentage of GDP for a group of Central and Eastern European countries. Instead of analysing only the variable for unit roots, we go a step further and test for different speeds of mean reversion dependent on break dates endogenously determined. We apply the Bai and Perron method to find that most countries have managed to balance their current account, but some of them should keep an eye on the low speed of mean reversion and the deviation of the time trend from balance.
Forschungsbereich:Makroökonomie und europäische Wirtschaftspolitik
Sprache:Englisch

Managing Editor

Univ.-Prof. MMag. Dr. Harald Oberhofer

Funktion: Ökonom (Senior Economist), Managing Editor Empirica
Forschungsbereiche: Industrieökonomie, Innovation und internationaler Wettbewerb