Cova, Pietro; Pisani, Massimiliano; Rebucci, Alessandro - In: Review of International Economics 17 (2009) 4, pp. 716-733
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 nontradable sector of these economies in the second half...