02796nam 2200577Ia 450 991046367980332120170821160707.01-4623-3257-91-4527-7630-X1-282-84284-61-4518-7210-09786612842849(CKB)3170000000056492(EBL)1608161(SSID)ssj0000941190(PQKBManifestationID)11509463(PQKBTitleCode)TC0000941190(PQKBWorkID)10963657(PQKB)11365233(OCoLC)466422672(MiAaPQ)EBC1608161(EXLCZ)99317000000005649220041202d2009 uf 0engur|n|---|||||txtccrGlobal imbalances[electronic resource] the role of non-tradable total factor productivity in advanced economies /prepared by Pietro Cova ... [et. al.][Washington D.C.] International Monetary Fund20091 online resource (41 p.)IMF working paper ;WP/09/63Description based upon print version of record.1-4519-1645-0 Includes bibliographical references.Contents; I. Introduction; II. Methodology; A. Mode, Calibration, and Solution; B. TFP Paths; III. Results; IV. Conclusions; Tables; 1. Annual Average Total Factor Productivity Growth by Sector and Country; Figures; 1. Global Merchandise Trade Balances; 2. Total Factor Productivity Paths; 3. Actual and Simulated U.S. Trade Balance; 4. Actual versus Simulated Trade Balances; 5. Actual and Simulated U.S. Real Effective Exchange Rate.; ReferencesThis 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 developmeIMF working paper ;WP/09/63.Production (Economic theory)Economic developmentElectronic books.Production (Economic theory)Economic development.Cova Pietro940534MiAaPQMiAaPQMiAaPQBOOK9910463679803321Global imbalances2120980UNINA