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An Alternative Model for the Trade Balance of Countries with Open Economies: The Spanish Case

Sastre, Luis (2005) An Alternative Model for the Trade Balance of Countries with Open Economies: The Spanish Case. [Working Paper or Technical Report]


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The aim of this work is to presents an alternative to the traditional models used to explain
the behaviour of the trade balance in Spain. This model could be useful for others medium
sized and fairly open countries. The specification highlights both, first the simultaneous
and direct interdependence of exports and imports flows, and second the countercyclical
impact of the domestic demand on exports and the impact of investment on imports and
some of its theoretical implications. Non linear simultaneous estimation, cointegration
techniques, and a battery of specification tests are the econometric tools applied in the paper.

Item Type:Working Paper or Technical Report
Uncontrolled Keywords:Balance of trade, Simultaneous equations, Export and import equations, Cointegration
Subjects:Social sciences > Economics > Econometrics
Social sciences > Economics > Economic development
Social sciences > Economics > Commerce
Series Name:Working Papers
ID Code:10532

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Deposited On:27 Apr 2010 10:11
Last Modified:06 Feb 2014 08:45

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