학술저널
Are Imports and Exports of Australia Cointegrated?
Are Imports and Exports of Australia Cointegrated?
- 세종대학교 경제통합연구소
- Journal of Economic Integration
- 제9권 제4호
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1994.12525 - 533 (9 pages)
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Few studies in the literature have investigated the response of Australian external accounts to macroeconomic policies by directly constructing and estimating some reduced form models. In this paper we offer an alternative method of testing the effectiveness of those policies by investigating the long-run convergence between Australian imports and exports. The application of cointegration technique revealed that Australian imports and exports are indeed cointegrated with cointegrating coefficient very close to unity indicating that indeed Australia`s macroeconomic policies have been effective in the long-run.
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