## Cross-Cutting Themes in Major Article IV Consultations

_Policy Papers, August 14, 2009_

## Source details

**Canonical URL:** [Cross-Cutting Themes in Major Article IV Consultations](https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/cross-cutting-themes-in-major-article-iv-consultations-pp4362)

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## Bibliographic details
- Published: August 14, 2009
- Series: Policy Papers

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### Purpose and Scope
- Part of a broader on-going effort to bring a more cross-country perspective to bilateral surveillance.
- Takes advantage of a cluster of Article IV consultations with five systemically important economies concluded in July.

### Systemic Five (S5) — Composition and Economic Weight
- The five economies: the United States, the Euro area, China, Japan, and the United Kingdom.
- These five economies account for two-thirds of global output and three quarters of capital flows.
- Referred to collectively as the systemic five (S5).

### Key Insight
- The nature of linkages and consistency of policy responses across the S5 has important implications for the world economy.

### Topics Covered (as listed in source)
- Article IV consultations
- Background papers
- Banking systems
- Credit risk
- Europe
- Financial crisis
- Fiscal policy
- Global Financial Crisis 2008-2009
- Japan
- Monetary policy
- Risk management
- Spillovers
- Staff studies in progress
- United States

### Publication Metadata
- Publication date: August 14, 2009

*Source: Cross-Cutting Themes in Major Article IV Consultations (International Monetary Fund).*

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## Content in this bundle

- **Cross-Cutting Themes in Major Article IV Consultations; IMF Policy Paper; August 14, 2009**
  - [Cross-Cutting Themes in Major Article IV Consultations; IMF Policy Paper; August 14, 2009 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/np/pp/eng/2009/_081409.pdf.md){rel="alternate" type="text/markdown"}
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_Source: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/cross-cutting-themes-in-major-article-iv-consultations-pp4362_