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Conference Paper
Budget and external deficits: not twins but the same family
Journal Article
U.S. policy on the problems of international debt
Working Paper
The international debt situation
This paper examines several aspects of the problem of international debt that has been a feature of the world economy of the 1980s. First, the paper considers the sources or causes of these problems. It goes on to consider responses to those problems, the outlook for international lending, and the criteria that might be used to conclude that they have been dealt with effectively. The paper concludes by examining some of the risks to continued progress in dealing with the problem of international debt.
Working Paper
SDRs, interest and the aid link: further analysis
Working Paper
The adequacy of the data on U.S. international financial transactions: a Federal Reserve perspective
This paper was prepared for the meeting of the Panel on International Capital Transactions of the National Research Council (National Academy of Sciences), April 23, 1992. There are well-documented inadequacies in the data on U.S. international capital flows, cross-border holdings of assets, and investment income. In order to set priorities for data improvements, it is necessary to evaluate our needs for information, survey possible additions and alternatives to the current data collection system, and weigh the costs and benefits of proposed improvements. ; This paper focuses on only one ...
Working Paper
The risks and implications of external financial shocks: lessons from Mexico
The lessons from the 1994-95 Mexican peso crisis are examined from the perspective of creditors and their markets, countries that are recipients of large capital inflows, and the functioning of the international system as a whole. From each of these perspectives, recent changes in the financial world are sketched, lessons from the Mexican experience are derived, and implications for policies are considered.
Working Paper
Approaches to managing external equilibria: where we are, where we might be headed, and how we might get there
This paper examines the issue of the U.S. external deficit in a global context. First, the paper considers certain aspects of the current economic situation that have contributed to the U.S. deficit and the progress that has been made to date in laying the basis for its narrowing. Second, the paper raises some questions about the international economic implications of a substantial reduction in the U.S. fiscal deficit, about the need for additional impetus to bring about further adjustment in the U.S. current account deficit, and about the preparedness of other industrial countries to absorb ...