Title of article :
A structuraldecompositionoftheU.S.tradebalance:Productivity, demographicsandfiscalpolicy
Author/Authors :
Andrea Ferrero، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2010
Pages :
13
From page :
478
To page :
490
Abstract :
The USexternaldeficitshavebeenthemoststrikingmanifestationofglobalimbalances. This paperinvestigatesthecontributionofproductivitygrowth,demographicsand fiscalpolicyinaccountingfortheevolutionoftheUSexternalimbalancesagainst industrializedcountriesduringthelastthreedecades.Productivitygrowthplaysa dominantrole.Demographicsexplainanon-negligibleandnearlypermanent componentoftheUStradedeficit.Furthermore,theinternationaldemographic transitioniscrucialforlargeUSexternalimbalancestobeconsistentwiththe persistentdeclineofworldrealinterestratesobservedinthedata.Fiscalpolicyisof minorimportance
Keywords :
Global imbalancesProductivity growthDemographic trendsFiscal policyWorld realinterestrates
Journal title :
Journal of Monetary Economics
Serial Year :
2010
Journal title :
Journal of Monetary Economics
Record number :
846406
Link To Document :
https://search.isc.ac/dl/search/defaultta.aspx?DTC=10&DC=846406
بازگشت