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Modeling investment income and other services in the U.S. international transactions accounts

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  • William Helkie
  • Lois Stekler
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    Abstract

    This paper presents the services account sector of a model of U.S. international transactions (the USIT model) that is maintained in the Division of International Finance of the Federal Reserve Board. Part I present the models for payments and receipts on direct investment, other investment income, and non-investment services. Part II reports on simulations that indicate the sensitivity of the model's forecast to changes in its predetermined variables such as interest rates and exchange rates. In particular, we explore the implications of large current account deficits and the resulting accumulation of net claims by foreigners on the United States for the services balance.

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    File URL: http://www.federalreserve.gov/pubs/ifdp/1987/319/default.htm
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    File URL: http://www.federalreserve.gov/pubs/ifdp/1987/319/ifdp319.pdf
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    Bibliographic Info

    Paper provided by Board of Governors of the Federal Reserve System (U.S.) in its series International Finance Discussion Papers with number 319.

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    Date of creation: 1987
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    Handle: RePEc:fip:fedgif:319

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    Related research

    Keywords: Investments; Foreign ; Balance of payments ; International trade;

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    Cited by:
    1. Lois Stekler, 1989. "Adequacy of International Transactions and Position Data for Policy Coordination," NBER Working Papers 2844, National Bureau of Economic Research, Inc.
    2. Lois E. Stekler & William L. Helkie, 1989. "Implications for future U.S. net investment payments of growing U.S. net international indebtedness," International Finance Discussion Papers 358, Board of Governors of the Federal Reserve System (U.S.).
    3. Juann H. Hung & Sandra Viana, 1995. "Modelling U.S. services trade flows: a cointegration-ECM approach," Research Paper 9518, Federal Reserve Bank of New York.

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