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Daniel Ventosa-santaulària, Manuel Gómez-zaldívar and Lizet A Pérez
''Long-run relationship with shifts between Mexican current account revenues and expenditures''
( 2013, Vol. 33 No.2 )
We study whether there is a long-run relationship between Mexican current account (CA) revenues and expenditures. Our results show that evidence in favor of this claim is drawn only when (at least) three structural break levels are allowed. The CA therefore behaves as a broken-mean stationary process. The shifts in the CA seem to be caused by large and sudden changes in the real exchange rate.
Keywords: Current Account, Mexico; Cointegration, Structural Breaks
JEL: F3 - International Finance: General
C2 - Single Equation Models; Single Variables: General
Manuscript Received : May 18 2013 Manuscript Accepted : Jun 03 2013

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