Jackknife Model Averaging of the Current Account Determinants

Authors

  • Branko Urošević National Bank of Serbia; University of Belgrade, Faculty of Economics, Serbia
  • Milan Nedeljković National Bank of Serbia; Singidunum University, Faculty of Economics, Finance and Administration, Belgrade, Serbia
  • Emir Zildžović National Bank of Serbia, Serbia

DOI:

https://doi.org/10.2298/PAN1203267U

Keywords:

Current account, Model averaging, Transition countries.

Abstract

This paper investigates the short to medium-term empirical relationships between the current account balances and a broad set of macroeconomic determinants in Serbia and selected CEE countries. Using novel model averaging techniques we focus the analysis to individual country’s data only. The results suggest that the model tracks the current account movements over the past decade quite well and captures its relative volatility. Signs and magnitudes of different coefficients indicate significant heterogeneity among countries providing empirical support for the country-level analysis.

Key words: Current account, Model averaging, Transition countries.
JEL: F32.

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Published

2012-10-10

How to Cite

Urošević, B., Nedeljković, M., & Zildžović, E. (2012). Jackknife Model Averaging of the Current Account Determinants. Panoeconomicus, 59(3), 267–281. https://doi.org/10.2298/PAN1203267U

Issue

Vol. 59 No. 3 (2012)

Section

Original scientific paper