Christopoulos, Dimitris K.; León-Ledesma, Miguel - School of Economics, University of Kent - 2004
We revisit the debate on the sustainability of the current account dynamics in the US. Using the concept of … sustainability as the ability to meet the long run intertemporal budget constraint, we test for unit roots in the US current account … for the 1960-2004 period. We argue that there are several reasons to believe that the current account may follow a non …