TY - BOOK ID - 11278940 TI - Global Imbalances : The Role of Non-Tradabletotal Factor Productivity in Advanced Economies AU - Rebucci, Alessandro. AU - Batini, Nicoletta. AU - Cova, Pietro. AU - Pisani, Massimiliano. PY - 2009 SN - 1451916450 1462332579 9786612842849 1451872100 1282842846 145277630X PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Business & Economics KW - Economic Theory KW - Production (Economic theory) KW - Economic development. KW - Development, Economic KW - Economic growth KW - Growth, Economic KW - Economic policy KW - Economics KW - Statics and dynamics (Social sciences) KW - Development economics KW - Resource curse KW - Microeconomics KW - Supply and demand KW - Demand (Economic theory) KW - Supply-side economics KW - Exports and Imports KW - Foreign Exchange KW - Production and Operations Management KW - Production KW - Cost KW - Capital and Total Factor Productivity KW - Capacity KW - Empirical Studies of Trade KW - Macroeconomics: Production KW - Macroeconomics KW - International economics KW - Currency KW - Foreign exchange KW - Total factor productivity KW - Trade balance KW - Productivity KW - Real effective exchange rates KW - Trade deficits KW - International trade KW - Industrial productivity KW - Balance of trade KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:11278940 AB - This 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. ER -