04677oam 22011054 450 991078832020332120230721045654.01-4623-3257-91-4527-7630-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(IMF)WPIEE2009063(EXLCZ)99317000000005649220020129d2009 uf 0engur|n|---|||||txtccrGlobal Imbalances : The Role of Non-Tradabletotal Factor Productivity in Advanced Economies /Alessandro Rebucci, Nicoletta Batini, Pietro Cova, Massimiliano PisaniWashington, D.C. :International Monetary Fund,2009.1 online resource (41 p.)IMF Working PapersDescription 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 developments across sectors can also partially explain the evolution of the real effective value of the U.S. dollar during this period.IMF Working Papers; Working Paper ;No. 2009/063Production (Economic theory)Economic developmentExports and ImportsimfForeign ExchangeimfProduction and Operations ManagementimfProductionimfCostimfCapital and Total Factor ProductivityimfCapacityimfEmpirical Studies of TradeimfMacroeconomics: ProductionimfMacroeconomicsimfInternational economicsimfCurrencyimfForeign exchangeimfTotal factor productivityimfTrade balanceimfProductivityimfReal effective exchange ratesimfTrade deficitsimfInternational tradeimfIndustrial productivityimfBalance of tradeimfUnited StatesimfProduction (Economic theory)Economic development.Exports and ImportsForeign ExchangeProduction and Operations ManagementProductionCostCapital and Total Factor ProductivityCapacityEmpirical Studies of TradeMacroeconomics: ProductionMacroeconomicsInternational economicsCurrencyForeign exchangeTotal factor productivityTrade balanceProductivityReal effective exchange ratesTrade deficitsInternational tradeIndustrial productivityBalance of tradeRebucci Alessandro553516Batini Nicoletta1491223Cova Pietro1513205Pisani Massimiliano1513206DcWaIMFBOOK9910788320203321Global Imbalances3747513UNINA