We assess the sustainability of the current account (CA) balance, net international investment position (NIIP) and net …-data stationarity tests of current account balance-to-GDP ratios as well as cointegration tests of exports and imports of goods and … sustainability of the CA balance mainly in a few surplus countries whereas there is more concern about the sustainability of the NIIP …

sustainability, through the cointegration between government revenues and expenditures, and of external sustainability, derived from …-step approach to assess the impact of fiscal and external sustainability on sovereign risk dynamics for a panel of 27 European … the exports-imports cointegration. We then resort to those time-varying coefficients to assess their impact on sovereign …