United States: Selected Issues

International Monetary Fund

No 2007/265, IMF Staff Country Reports from International Monetary Fund

Abstract: The size and sources of international spillovers of activity remain subject to significant uncertainty. This Selected Issues paper uses a new approach to differentiating these effects using disturbances to a diverse group of small industrial countries as a proxy for global shocks. The results from the baseline vector autoregressions suggest that shocks to the United States are significant for foreign activity. The paper also evaluates alternative explanations for the easy financing of the U.S. current account deficit in recent years.

Keywords: ISCR; CR; inflation expectation; market; GDP; net lending; country financing; revenue-GDP ratio; savings glut hypothesis; Loans; Mortgages; Spillovers; Securities; Investment banking; Global; East Asia (search for similar items in EconPapers)
Pages: 61
Date: 2007-08-01
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