Juan Pablo Medina G.; Munro, Anella; Claudio Soto G. - In: Journal Economía Chilena (The Chilean Economy) 10 (2007) 3, pp. 67-114
This paper uses a DSGE model to explore what factors explain current account developments in Chile and New Zealand, two small open economies that are intensive commodity exporters. The model estimation shows that investment-specific shocks, foreign financial changes, and foreign demand shocks...