Jackknife model averaging of the current account determinants | Zendy

Branko Urošević | Zendy; Milan Nedeljković | Zendy; Emir Zildžovic | Zendy

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Jackknife model averaging of the current account determinants

Author(s) -

Branko Urošević,

Milan Nedeljković,

Emir Zildžovic

Publication year - 2012

Publication title -

panoeconomicus

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.289

H-Index - 14

eISSN - 2217-2386

pISSN - 1452-595X

DOI - 10.2298/pan1203267u

Subject(s) - jackknife resampling , econometrics , volatility (finance) , economics , current account , term (time) , statistics , macroeconomics , mathematics , physics , quantum mechanics , estimator , exchange rate

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

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