02944nam 2200601Ia 450 991082852110332120200520144314.01-4623-3257-91-4527-7630-X1-282-84284-61-4518-7210-09786612842849(CKB)3170000000056492(EBL)1608161(SSID)ssj0000941190(PQKBManifestationID)11509463(PQKBTitleCode)TC0000941190(PQKBWorkID)10963657(PQKB)11365233(OCoLC)466422672(IMF)WPIEE2009063(MiAaPQ)EBC1608161(EXLCZ)99317000000005649220041202d2009 uf 0engur|n|---|||||txtccrGlobal imbalances the role of non-tradable total factor productivity in advanced economies /prepared by Pietro Cova ... [et. al.]1st ed.[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 developments across sectors can also partially explain the evolution of the real effective value of the U.S. dollar during this period.IMF working paper ;WP/09/63.Production (Economic theory)Economic developmentProduction (Economic theory)Economic development.332.152Cova Pietro1704980MiAaPQMiAaPQMiAaPQBOOK9910828521103321Global imbalances4202633UNINA