The long-run relation and short-run dynamics of fiscal policy and current account is examined using time-series data on four East Asian economies -- South Korea, Malaysia, Singapore and Thailand. The purpose of the study is to test the validity of two alternative views on budget deficits -- the...

This paper estimates the long-run demand for money in Romania using monthly data from January 1994 to August 2003. The Johansen-Juselius cointegration procedure provides evidence of one cointegrating vector for both narrowly and broadly defined money demand functions. Real money balances are not...

This study examines the relationship between savings and investment for 26 transition economies using a panel data set covering the 1991 to 2002 period. Estimates of the saving coefficient based on cross-sectional, fixed-effect, random-effect and mean-group estimators range from 0.263 to 0.315,...