recommendations to reduce the trade imbalances through productivity-enhancing reforms in advanced economies are likely to yield only …

recommendations to reduce the trade imbalances through productivity-enhancing reforms in advanced economies are likely to yield only …

Deficits discussion of the 1980s. In contrast, during the 1990s productivity growth has been identified as the primary cause of … importance of budget deficits and productivity shocks for the determination of the current account. Using a sample of 21 OECD … current account, while country-specific productivity shocks appear to play a key role …

-192) to an economy with traded and nontraded goods, and it analyzes the impact of country-specific and global productivity … investment to country-specific traded productivity growth. Second, global traded productivity and country-specific nontraded … productivity growth have no effect on the current account, but they have a significant impact on investment. Third, the global …

nontraded goods, and it analyzes the impact of country- specific and global productivity shocks on the current account and … productivity growth. Second, global traded productivity and country-specific nontraded productivity growth have no effect on the … current account, but they have significant impact on investment. Third, global component of nontraded productivity is …