01734cas a2200253 a 4500 AALejournalIMF008084 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451846485 1018-5941 BD-DhAAL BD-DhAAL Greene, Joshua. The Impact of Cyclical Factors on the U. S. Balance of Payments / Joshua Greene, Magda Kandil. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (43 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet Kandil, Magda. IMF Working Papers; Working Paper ; No. 2002/045 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/045/001.2002.issue-045-en.xml IMF e-Library