文章基本信息

标题：The Dynamics of the Brazilian Current Account with Rule of Thumb Consumers
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作者：Lucio Hellery Holanda Oliveira ; Carlos Enrique Carrasco-Gutierrez
期刊名称：Economia Aplicada
印刷版ISSN：1413-8050
电子版ISSN：1980-5330
出版年度：2016
卷号：20
期号：2
DOI：10.11606/1413-8050/ea138661
语种：Portuguese
出版社：Economia Aplicada
摘要：The traditional intertemporal current account model assumesthat all individuals follow the permanent income theory. The innovation proposed in this work is to incorporate the idea that some consumers have rule of thumb behavior with the classic current account dynamics model. The share of aggregate income that follows the rule of thumb behavior and the habit formation coeﬃcient are estimated. Based on the current account data on the Brazilian economy, the results conﬁrm some stylized facts presented in the literature as well as some testable basic propositions of the intertemporal current account model