Gnimassoun, Blaise; Mignon, Valérie - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2013
This paper aims at studying current-account imbalances by paying a particular attention to exchange-rate misalignments. We rely on a nonlinear model linking the persistence of current-account imbalances to the deviation of the exchange rate to its equilibrium value. Estimating a panel smooth...