An Intertemporal Benchmark Model for Turkey’s Current Account



Table VII: Test for equality of the optimal and actual current account

Restrictions

Coefficient

Standard error

T-statistic

c 1 - a 1 = 0

0.3922

0.209949

1.868074

c 2 - a 2 = 0

0.0789

0.228639

0.345085

c 3 - a 3 = 0

0.2241

0.22555

0.99357

c 4 - a 4 = 0

-0.4352

0.229637

-1.89516

c 5 - a 5 = 0

-0.0303

0.158773

-0.19084

d 1 - b1 = 1.0512 10

0.8214

0.184162

-1.24781

d 2 - b 2 = 0

0.1298

0.228679

0.567608

d 3 - b 3 = 0

-0.3639

0.244109

-1.49073

d 4 - b 4 = 0

0.7648

0.256563

2.980939*

d 5 - b 5 = 0

-0.5837

0.208832

-2.79507*

Reject the null, which implies that the restrictions do not hold.

10 The restriction is d1 - b1 = 1 + r where r is the world rate of interest. We use the average rate in our
sample for this test.

25



More intriguing information

1. The name is absent
2. Improvements in medical care and technology and reductions in traffic-related fatalities in Great Britain
3. Change in firm population and spatial variations: The case of Turkey
4. The name is absent
5. A THEORETICAL FRAMEWORK FOR EVALUATING SOCIAL WELFARE EFFECTS OF NEW AGRICULTURAL TECHNOLOGY
6. The Role of Land Retirement Programs for Management of Water Resources
7. The Shepherd Sinfonia
8. The Values and Character Dispositions of 14-16 Year Olds in the Hodge Hill Constituency
9. DISCUSSION: POLICY CONSIDERATIONS OF EMERGING INFORMATION TECHNOLOGIES
10. The name is absent