The impact of cyclical factors on the U.S. balance of payments /

The impact of cyclical factors on the U.S. balance of payments /

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Bibliographic Details
Author / Creator:	Kandil, Magda.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2002.
Description:	1 online resource (43 pages) : illustrations
Language:	English
Series:	IMF working paper ; WP/02/45 IMF working paper ; WP/02/45.
Subject:	Balance of payments -- United States -- Econometric models. Gross domestic product -- United States -- Econometric models. Foreign exchange rates -- United States -- Econometric models. Balance of payments -- Econometric models. Foreign exchange rates -- Econometric models. Gross domestic product -- Econometric models. United States.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/13510564

Hidden Bibliographic Details
Other authors / contributors:	Greene, Joshua E. IMF Institute. International Monetary Fund. Treasurer's Department.
ISBN:	1281370673 9781281370679
Notes:	Includes bibliographical references (pages 41-43). 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.
Summary:	Real GDP growth and real effective exchange rate (REER) appreciation appear cointegrated with the current and financial accounts of the U.S. balance of payments. On this basis, we estimate reduced form equations showing that expected changes and shocks to real GDP, the REER, energy prices, and growth in emerging market economies and other industrial countries explain much of the short-term variation in the U.S. current account balance, with the balance worsening as real GDP, energy prices, and the REER increase. In addition, foreign direct investment rises with real growth, while stock market prices affect the composition of capital inflows.
Other form:	Print version: Kandil, Magda. Impact of cyclical factors on the U.S. balance of payments. [Washington, D.C.] : International Monetary Fund, ©2002

Description
Summary:	Real GDP growth and real effective exchange rate (REER) appreciation appear cointegrated with the current and financial accounts of the U.S. balance of payments. On this basis, we estimate reduced form equations showing that expected changes and shocks to real GDP, the REER, energy prices, and growth in emerging market economies and other industrial countries explain much of the short-term variation in the U.S. current account balance, with the balance worsening as real GDP, energy prices, and the REER increase. In addition, foreign direct investment rises with real growth, while stock market prices affect the composition of capital inflows.
Physical Description:	1 online resource (43 pages) : illustrations
Format:	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.
Bibliography:	Includes bibliographical references (pages 41-43).
ISBN:	1281370673 9781281370679