This paper estimates a simple consumption-smoothing model of the French current account, and examines its capacity to predict recent developments in France's external performance.

sta The Consumption Capital Asset Pricing Model (C-CAPM) is tested using data on equity prices in Jordan, Turkey, and Pakistan over the period 1986-93. The analysis is carried out in two steps. The parameters of agents' dynamic consumption and investment decisions are first estimated, and then...

This paper compares the evolution of the Australian current account balance over the period 1954-94 against an optimal current account derived from a consumption-smoothing model.

This paper examines the relationship between terms of trade shocks, private saving, and the current account position.

India has a long history of running fiscal deficits. Two broad considerations motivate a government to run a deficit: tax smoothing and tax tilting. This paper tests a version of Barro's tax smoothing model, using Indian data for the period 1951-52 to 1966-97. The empirical results indicate that...

This paper examines the optimality of international capital flows to a persistent net importer of capital, Australia, during its post-capital-controls period 1984-1948. This paper also dicusses the main implications arising from measures of optimal capital flows, and compares them with the...