LEADER 04920oam 22012134 450 001 9910961198103321 005 20250426110523.0 010 $a9786612842849 010 $a9781462332571 010 $a1462332579 010 $a9781452776309 010 $a145277630X 010 $a9781282842847 010 $a1282842846 010 $a9781451872101 010 $a1451872100 035 $a(CKB)3170000000056492 035 $a(EBL)1608161 035 $a(SSID)ssj0000941190 035 $a(PQKBManifestationID)11509463 035 $a(PQKBTitleCode)TC0000941190 035 $a(PQKBWorkID)10963657 035 $a(PQKB)11365233 035 $a(OCoLC)466422672 035 $a(IMF)WPIEE2009063 035 $a(MiAaPQ)EBC1608161 035 $a(IMF)WPIEA2009063 035 $aWPIEA2009063 035 $a(EXLCZ)993170000000056492 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aGlobal Imbalances : $eThe Role of Non-Tradabletotal Factor Productivity in Advanced Economies /$fAlessandro Rebucci, Nicoletta Batini, Pietro Cova, Massimiliano Pisani 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (41 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 08$a9781451916454 311 08$a1451916450 320 $aIncludes bibliographical references. 327 $aContents; 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.; References 330 3 $aThis paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of the United States, the euro area, and Japan in the emergence and evolution of today's global trade imbalances. Simulation results based on a dynamic general equilibrium model of the world economy, and using the EU KLEMS database, indicate that TFP developments in these economies can account for a significant fraction of the total deterioration in the U.S. trade balance since 1999, as well as account for some the surpluses in the euro area and Japan. Differences in TFP developments across sectors can also partially explain the evolution of the real effective value of the U.S. dollar during this period. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/063 606 $aProduction (Economic theory) 606 $aEconomic development 606 $aBalance of trade$2imf 606 $aCapacity$2imf 606 $aCapital and Total Factor Productivity$2imf 606 $aCost$2imf 606 $aCurrency$2imf 606 $aEmpirical Studies of Trade$2imf 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aForeign exchange$2imf 606 $aIndustrial productivity$2imf 606 $aInternational economics$2imf 606 $aInternational trade$2imf 606 $aMacroeconomics$2imf 606 $aMacroeconomics: Production$2imf 606 $aProduction and Operations Management$2imf 606 $aProduction$2imf 606 $aProductivity$2imf 606 $aReal effective exchange rates$2imf 606 $aTotal factor productivity$2imf 606 $aTrade balance$2imf 606 $aTrade deficits$2imf 607 $aUnited States$2imf 615 0$aProduction (Economic theory) 615 0$aEconomic development. 615 7$aBalance of trade 615 7$aCapacity 615 7$aCapital and Total Factor Productivity 615 7$aCost 615 7$aCurrency 615 7$aEmpirical Studies of Trade 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aForeign exchange 615 7$aIndustrial productivity 615 7$aInternational economics 615 7$aInternational trade 615 7$aMacroeconomics 615 7$aMacroeconomics: Production 615 7$aProduction and Operations Management 615 7$aProduction 615 7$aProductivity 615 7$aReal effective exchange rates 615 7$aTotal factor productivity 615 7$aTrade balance 615 7$aTrade deficits 676 $a332.152 700 $aRebucci$b Alessandro$0553516 701 $aBatini$b Nicoletta$01815833 701 $aCova$b Pietro$01815834 701 $aPisani$b Massimiliano$01815835 801 0$bDcWaIMF 906 $aBOOK 912 $a9910961198103321 996 $aGlobal Imbalances$94371366 997 $aUNINA