Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Western Hemisphere Department.
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| ISBN: | 1283519003
9781283519007
9781451986150
1451986157
9781451864304
1451864302
1462307426
9781462307425
1452754179
9781452754178
9786613831453
661383145X
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| Digital file characteristics: | data file
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| Notes: | Includes bibliographical references.
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
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Partly reflecting structural advantages such a liquidity and strong investor protection, foreigners have built up extremely large positions in U.S. (as well as other dollar-denominated) financial assets. This paper describes the impact on global wealth of an unanticipated shock to U.S. financial markets. For every 10 percent decline in the dollar, U.S. equity markets, and U.S. bond markets, total wealth losses to foreigners could amount to about 5 percentage points of foreign GDP. Four stylized facts emerge: (i) foreign countries, particularly emerging markets, are more exposed to U.S. bonds than U.S. equities; (ii) U.S. exposure has increased for most countries; (iii) on average, U.S. asset holdings of developed countries and emerging markets (scaled by GDP) are very similar; and (iv) based on their reserve positions, wealth losses of emerging market governments could, on average, amount to about 2 3/4 percentage points of their GDP.
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| Other form: | Print version: Warnock, Francis E. How might a disorderly resolution of global imbalances affect global wealth?. [Washington, D.C.] : International Monetary Fund, ©2006
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| Standard no.: | 10.5089/9781451986150.001
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