01961cas a2200277 a 4500 AALejournalIMF005579 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451872101 1018-5941 BD-DhAAL BD-DhAAL Rebucci, Alessandro. Global Imbalances : The Role of Non-Tradabletotal Factor Productivity in Advanced Economies / Alessandro Rebucci, Nicoletta Batini, Pietro Cova, Massimiliano Pisani. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (39 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 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. Mode of access: Internet Batini, Nicoletta. Cova, Pietro. Pisani, Massimiliano. IMF Working Papers; Working Paper ; No. 2009/063 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/063/001.2009.issue-063-en.xml IMF e-Library