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United States: Selected Issues

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  • International Monetary Fund

Abstract

The note delves on the U.S. housing market outlook, the potential benefits of mitigating distressed sales household deleveraging, and the recovery. Policies to facilitate labor market adjustment to reduce the large employment volatility without affecting efficient labor allocation could prevent problems. U.S. firms are hoarding money but it is likely to be spent to boost firms’ capital expenditure, rather than kept as precautionary balances. The note discusses commodity price shocks affecting Treasury inflation protected securities (TIPS), budget institutions for federal fiscal consolidation, and mortgage delinquencies in the United States.

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  • International Monetary Fund, 2011. "United States: Selected Issues," IMF Staff Country Reports 2011/202, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2011/202
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    References listed on IDEAS

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    1. Eric A. Posner & Luigi Zingales, 2009. "A Loan Modification Approach to the Housing Crisis," American Law and Economics Review, American Law and Economics Association, vol. 11(2), pages 575-607.
    2. Adelino, Manuel & Gerardi, Kristopher & Willen, Paul S., 2013. "Why don't Lenders renegotiate more home mortgages? Redefaults, self-cures and securitization," Journal of Monetary Economics, Elsevier, vol. 60(7), pages 835-853.
    3. Thomas J. Fitzpatrick & James B. Thomson, 2010. "Stripdowns and bankruptcy: lessons from agricultural bankruptcy reform," Economic Commentary, Federal Reserve Bank of Cleveland, issue Aug.
    4. Agarwal, Sumit & Amromin, Gene & Ben-David, Itzhak & Chomsisengphet, Souphala & Evanoff, Douglas D., 2011. "The role of securitization in mortgage renegotiation," Journal of Financial Economics, Elsevier, vol. 102(3), pages 559-578.
    5. Christopher Mayer & Edward Morrison & Tomasz Piskorski & Arpit Gupta, 2014. "Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide," American Economic Review, American Economic Association, vol. 104(9), pages 2830-2857, September.
    6. Vladimir Klyuev & John Kiff, 2009. "Foreclosure Mitigation Efforts in the United States; Approaches and Challenges," IMF Staff Position Notes 2009/02, International Monetary Fund.
    7. Vladimir Klyuev & John Kiff, 2009. "Foreclosure Mitigation Efforts in the United States; Approaches and Challenges," IMF Staff Position Notes 2009/002, International Monetary Fund.
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    Cited by:

    1. Tamim Bayoumi & Trung Bui, 2011. "Apocalypse Then: The Evolution of the North Atlantic Economy and the Global Crisis," RBA Annual Conference Volume (Discontinued), in: Hugo Gerard & Jonathan Kearns (ed.),The Australian Economy in the 2000s, Reserve Bank of Australia.
    2. Mr. Tamim Bayoumi & Mr. Trung T Bui, 2012. "Global Bonding: Do U.S. Bond and Equity Spillovers Dominate Global Financial Markets?," IMF Working Papers 2012/298, International Monetary Fund.
    3. Jiri Jonas, 2012. "Great Recession and Fiscal Squeeze at U.S. Subnational Government Level," IMF Working Papers 2012/184, International Monetary Fund.
    4. International Monetary Fund, 2012. "Israel: Technical Note on Stress Test of the Banking, Insurance and Pension Sectors," IMF Staff Country Reports 2012/088, International Monetary Fund.
    5. Mr. Tamim Bayoumi & Mr. Trung T Bui, 2011. "Unforeseen Events Wait Lurking: Estimating Policy Spillovers From U.S. to Foreign Asset Prices," IMF Working Papers 2011/183, International Monetary Fund.
    6. Ms. Evridiki Tsounta, 2011. "Home Sweet Home: Government's Role in Reaching the American Dream," IMF Working Papers 2011/191, International Monetary Fund.

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