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 … 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. …

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 …

living. The increase comes from a permanent rise in productivity following an efficient reallocation of resources in a …

the international transmission of productivity improvements generate the observed degree of risk-sharing: one associated …

international transmission of productivity improvements generate the observed degree of risk-sharing: one associated with a …

This paper analyzes the welfare implications of international spillovers related to productivity gains, changes in …-equilibrium model with monopolistic competition, drawing a distinction between productivity gains from manufacturing efficiency and …

argue that trend shocks to productivity can help explain the countercyclical U.S. current account. Our framework is a two … identify trend and transitory shocks to U.S. productivity using generalized method of moments (GMM) estimation. The …