This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of …

This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of …

the world economy. This paper examines the possible impact of fiscal adjustment and productivity-enhancing structural … imbalance with only limited spillovers to the rest of the world. Specifically, faster productivity growth would help lower Japan …''s debt and limit the tendency of fiscal consolidation to increase the external surplus. In fact, very rapid productivity …