Hidden Bibliographic Details
| Other authors / contributors: | Punzi, Maria Teresa, author.
International Monetary Fund. Monetary and Capital Markets Department.
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| ISBN: | 1283513145
9781283513142
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| Notes: | Includes bibliographical references (page 21).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | To assess the conditions for the financing of the U.S. current account, this paper analyzes the determinants of bond flows into the United States, using a data set constructed for the period 1994-2006 from U.S. Treasury International Capital Flows (TIC) statistics. Panel vector autoregression and instrumental variables approaches are used to estimate the impact of changes in interest rate differentials and other fundamentals on capital flows into the U.S. The paper finds evidence for an impact from interest rate differentials to bond inflows that has increased over time, consistent with a theoretical model of declining home bias.
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| Other form: | Print version: Walker, W. Christopher. Financing of global imbalances. [Washington, D.C.] : International Monetary Fund, Monetary and Capital Markets, ©2007
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