Mello, Luiz de; Padoan, Pier Carlo - Economics Department, Organisation de Coopération et … - 2010
major countries/regions are stationary around structural breaks, which define episodes of current account reversals. On the …This paper assesses the sustainability of global imbalances by testing for the presence of unit roots in the current … account positions (measured in relation to GDP) of the United States, China, Japan, Germany and the oil-exporting countries …