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Modeling investment income and other services in the U.S. international transactions accounts

Author

Listed:
  • William L. Helkie
  • Lois E. Stekler

Abstract

This paper presents the services account sector of a model of U.S. international transactions (the USIT model) that is maintained in the Division of International Finance of the Federal Reserve Board. Part I present the models for payments and receipts on direct investment, other investment income, and non-investment services. Part II reports on simulations that indicate the sensitivity of the model's forecast to changes in its predetermined variables such as interest rates and exchange rates. In particular, we explore the implications of large current account deficits and the resulting accumulation of net claims by foreigners on the United States for the services balance.

Suggested Citation

  • William L. Helkie & Lois E. Stekler, 1987. "Modeling investment income and other services in the U.S. international transactions accounts," International Finance Discussion Papers 319, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgif:319
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    File URL: http://www.federalreserve.gov/pubs/ifdp/1987/319/default.htm
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    File URL: http://www.federalreserve.gov/pubs/ifdp/1987/319/ifdp319.pdf
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    Citations

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    Cited by:

    1. Lois Stekler, 1989. "Adequacy of International Transactions and Position Data for Policy Coordination," NBER Working Papers 2844, National Bureau of Economic Research, Inc.
    2. William L. Helkie & Lois E. Stekler, 1989. "Implications for future U.S. net investment payments of growing U.S. net international indebtedness," International Finance Discussion Papers 358, Board of Governors of the Federal Reserve System (U.S.).
    3. Juann H. Hung & Sandra Viana, 1995. "Modelling U.S. services trade flows: a cointegration-ECM approach," Research Paper 9518, Federal Reserve Bank of New York.

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