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Global Imbalances : the Role of Non-Tradabletotal Factor Productivity in Advanced Economies /
This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of the United States, the euro area, and Japan in the emergence and evolution of today''s global trade imbalances. Simulation results based on a dynamic general equilibrium mo...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autor Corporativo: | |
| Otros Autores: | , , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2009.
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| Colección: | IMF Working Papers ;
Working Paper no. 09/63. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of the United States, the euro area, and Japan in the emergence and evolution of today''s global trade imbalances. Simulation results based on a dynamic general equilibrium model of the world economy, and using the EU KLEMS database, indicate that TFP developments in these economies can account for a significant fraction of the total deterioration in the U.S. trade balance since 1999, as well as account for some the surpluses in the euro area and Japan. Differences in TFP developments across sectors can also partially explain the evolution of the real effective value of the U.S. dollar during this period. |
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| Notas: | Available in PDF, ePUB, and Mobi formats on the Internet. |
| Descripción Física: | 1 online resource (39 pages). |
| Bibliografía: | Includes bibliographical references (pages 38-39). |
| ISBN: | 1451916450 9781451916454 |
| ISSN: | 2227-8885 2227-8885 ; |