The United States: Spillover Report: 2011 Article IV Consultation

July 25, 2011

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Format: Chicago

The United States: Spillover Report: 2011 Article IV Consultation, (USA: International Monetary Fund, 2011) accessed September 20, 2024

Summary

The size of the U.S. economy and, in particular, the global dominance of its financial markets creates uniquely large policy spillovers. Concerns that the end of QE2 could lead to a rapid reversal of emerging market capital flows appear overblown. A credible plan for a gradual U.S. fiscal consolidation would likely have limited short-term spillovers and substantial longer-term benefits. Overall, U.S. and foreign goals appear better aligned for U.S. fiscal and financial policies than for monetary policies. Fiscal consolidation and sounder financial regulation will help.

Subject: Banking, Emerging and frontier financial markets, Exports, Financial crises, Financial markets, Financial sector policy and analysis, Financial services, International trade, Spillovers, Yield curve

Keywords: Asset price, Banking sector, Central America, CR, Credit default swap, Emerging and frontier financial markets, Europe, Exchange rate risk, Exports, Financial market, Global, Global bond, Interest rate, ISCR, Market response, Risk premium, Spillovers, Treasury yield, Yield curve

Publication Details

Pages:

77
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/203
Stock No:

1USAEA2011003
ISBN:

9781462317349
ISSN:

1934-7685

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