This article puts forward an econometric test of the intertemporal approach of the current account for the Spanish economy using procedures suitable to deal with long run time series. The test considers two expectations' generation processes. The standard one and an alternative one where...

We present a small analytical framework, built in the Balance of Payments Constrained Growth (BPCG) tradition, tailored to identify how specific financial and structural vulnerabilities of emerging economies (EMEs) restrict their expansion. This framework is applied to shed light on the impact...