The global financial crisis is leading to a revival of the empirical literature on current account imbalances. This paper contributes to the literature by investigating the importance of model and parameter uncertainty to assess external imbalances. Panel data, current account models, model...

We examine the two-level and the three-level nested four factor Constant Elasticity of Substitution production functions, where labor is disaggregated into skilled and unskilled labor and the capital stock into structures and equipment capital. We estimate inter-factor substitution elasticity...

We examine the monetary implications of Anticipated Future Consumption streams in utility.Ramsey optimal growth modelPaper is finalized