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United States: Selected Issues

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  • 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.

Suggested Citation

  • International Monetary Fund, 2007. "United States: Selected Issues," IMF Staff Country Reports 2007/265, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2007/265
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    References listed on IDEAS

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    1. John M. Quigley, 2006. "Federal credit and insurance programs: housing," Review, Federal Reserve Bank of St. Louis, vol. 88(Jul), pages 281-310.
    2. Mr. Vladimir Klyuev & Mr. Paul S. Mills, 2006. "Is Housing Wealth An 'ATM'? the Relationship Between Household Wealth, Home Equity withdrawal, and Saving Rates," IMF Working Papers 2006/162, International Monetary Fund.
    3. Mark Doms & Meryl Motika, 2006. "The rise in homeownership," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue nov3.
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