05412oam 22011534 450 991078834850332120230721045635.01-4623-1945-91-4527-4604-497866128423821-4518-7163-51-282-84238-2(CKB)3170000000055186(EBL)1608144(SSID)ssj0000943303(PQKBManifestationID)11484319(PQKBTitleCode)TC0000943303(PQKBWorkID)10978110(PQKB)10652029(OCoLC)680613557(MiAaPQ)EBC1608144(IMF)WPIEE2009016(EXLCZ)99317000000005518620020129d2009 uf 0engur|n|---|||||txtccrThe Declining Importance of Tradable Goods Manufacturing in Australia and New Zealand : How Much Can Growth Theory Explain? /Benjamin HuntWashington, D.C. :International Monetary Fund,2009.1 online resource (17 p.)IMF Working PapersDescription based upon print version of record.1-4519-1599-3 Includes bibliographical references.Contents; I. Introduction; II. An Overview of The Global Economic Model; A. Households; B. Firms; C. Government; D. Parameterization; III. The Stylized Facts; Figures; 1. Share of Tradable Goods Production in GDP; 2. Annual Labor Productivity Growth; IV. Simulation Results; A. Some Broad Features of the Simulation Results; Tables; 1. Average Annual Labor Productivity Growth 1995 to 2004; 3. Some Broad Macroeconomic Consequences of Unbalanced Growth; B. Effect of Unbalanced Growth on Tradables Production; C. Internal and External Contributions; 2. Change Over Ten Years in Share of GDPV. Conclusions3: Simulated Changes Over Ten Years in Share of GDP; References; Appendixes; Appendix I. Calibration Details; Appendix Tables; 1: Key Steady-State Calibration Values; 2. Non-Commodity Tradables as Percent of GDP; 3. Production and Trade in Commodities as Shares of GDP; 4: Key Behavioral Parameter ValuesIn this paper, the IMF's new Global Economy Model (GEM) is used to estimate the contribution of unbalanced growth to the decline in the share of goods production in Australia and New Zealand. The simulation results suggest that faster productivity growth in the tradable goods sector in Australia, New Zealand, and their major trading partners accounts for a significant portion of the relative decline in the importance of goods production. Over the 1995 to 2004 period, unbalanced growth explains more than 80 percent of the decline in goods production in both countries.IMF Working Papers; Working Paper ;No. 2009/016Economic developmentAustraliaEconometric modelsEconomic developmentNew ZealandEconometric modelsInvestments: CommoditiesimfInflationimfProduction and Operations ManagementimfMacroeconomicsimfMacroeconomics: ProductionimfEconomic Growth of Open EconomiesimfMacroeconomic Aspects of International Trade and Finance: Forecasting and SimulationimfIndustrial Organization and Macroeconomics: Industrial Structure and Structural ChangeimfIndustrial Price IndicesimfPrice LevelimfDeflationimfCommodity MarketsimfLabor Economics: GeneralimfInvestment & securitiesimfLabourimfincome economicsimfProductivityimfCommoditiesimfProductionimfPricesimfLaborimfIndustrial productivityimfCommercial productsimfLabor economicsimfNew ZealandimfEconomic developmentEconometric models.Economic developmentEconometric models.Investments: CommoditiesInflationProduction and Operations ManagementMacroeconomicsMacroeconomics: ProductionEconomic Growth of Open EconomiesMacroeconomic Aspects of International Trade and Finance: Forecasting and SimulationIndustrial Organization and Macroeconomics: Industrial Structure and Structural ChangeIndustrial Price IndicesPrice LevelDeflationCommodity MarketsLabor Economics: GeneralInvestment & securitiesLabourincome economicsProductivityCommoditiesProductionPricesLaborIndustrial productivityCommercial productsLabor economicsHunt Benjamin895004DcWaIMFBOOK9910788348503321The Declining Importance of Tradable Goods Manufacturing in Australia and New Zealand3716536UNINA