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Global Imbalances The Role of Emerging Asia

This paper investigates the role played by emerging Asia in the emergence and evolution of the global trade imbalances. Based on simulations in a general equilibrium model of the world economy, we find that a productivity slowdown in the non-tradable sector of these economies in the second half of t...

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Bibliographic Details
Main Author: Pisani, Massimiliano
Other Authors: Cova, Pietro, Rebucci, Alessandro
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2009
Series:IMF Working Papers
Subjects:
Economic Policy
Interest Rates
Balance Of Trade
Terms Of Trade
Finance
Productivity
Real Interest Rates
Cost
Capital And Total Factor Productivity
Production
Industrial Productivity
Trade Balance
Exports And Imports
International Economics
Total Factor Productivity
Macroeconomics: Production
Banks And Banking
Macroeconomics
Interest Rates: Determination, Term Structure, And Effects
Capacity
Empirical Studies Of Trade
Nternational Cooperation
Production And Operations Management
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper investigates the role played by emerging Asia in the emergence and evolution of the global trade imbalances. Based on simulations in a general equilibrium model of the world economy, we find that a productivity slowdown in the non-tradable sector of these economies in the second half of the 1990s fits regional macroeconomic developments relatively well, but has limited spillover effect to the United States trade balance. In contrast, an increase in the desired level of emerging Asia net foreign assets starting in 2001 not only fits regional developments relatively well, but also has a significant spillover effect to the United States
Physical Description:40 pages
ISBN:9781451872118

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