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Hurricanes: Intertemporal Trade and Capital Shocks.

Abstract:

Hurricanes in the Caribbean and Central America represent a natural experiment to test the intertemporal approach to current account determination. The intertemporal approach allows for the possibility of intertemporal trade, via international borrowing. Previous tests of intertemporal current account (ICA) models have typically relied upon the identification of shocks in a VAR framework with which to trace the current account response. Hurricane shocks represent exactly the kind of temporary...

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Publisher:
Department of Economics (University of Oxford)
Series:
Discussion paper series
Publication date:
2005-06-01
Language:
English
UUID:
uuid:13bfbde3-1c53-4fa4-b1ba-5835263b9531
Local pid:
ora:1280
Deposit date:
2011-08-16

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