Bhattacharjee, Arnab; Chadha, Jagjit S.; Sun, Qi - Centre for Dynamic Macroeconomic Analysis, University … - 2008
current account is (mostly)
countercyclical.
Figure 1 is set over four panels. The top left hand panel of Figure 1 shows
the … side panel of Figure 1 suggests that the current
account tends to be countercyclical (with a de…cit under an economic … rate (den Haan, 2000). The panels show that
over the long run, these quantities are countercyclical but over the short term …