01789cas a2200265 a 4500 AALejournalIMF005577 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451872118 1018-5941 BD-DhAAL BD-DhAAL Pisani, Massimiliano. Global Imbalances : The Role of Emerging Asia / Massimiliano Pisani, Pietro Cova, Alessandro Rebucci. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (40 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet Cova, Pietro. Rebucci, Alessandro. IMF Working Papers; Working Paper ; No. 2009/064 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/064/001.2009.issue-064-en.xml IMF e-Library