The External Sector Report presents a methodologically consistent assessment of the exchange rates, current accounts, reserves, capital flows, and external balance sheets of the world's largest economies. The 2018 edition includes an analytical assessment of how trade costs and related policy...

This cross-country paper explains differences in external sector performance among four large euro area countries—France, Germany, Italy, and Spain. The paper discusses that during 2001–04, the performance of the external sector differed markedly among these four largest euro area countries....

The 2008 crisis underscored the interconnectedness of the international business cycle, with U.S. shocks leading to the largest global slowdown since the 1930s. We estimate spillover effects across major advanced country regions in a structural VAR (SVAR) using pre-crisis data. Our new method...

The changes to the structure of Japanese exports and imports in the second half of the 1980s departed significantly from past trends. Econometric analysis confirms that some of the structural changes—notably the importance of consumer goods trade—cannot be fully explained using conventional...