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Adjustment in Euro Area Deficit Countries

Adjustment in Euro Area Deficit Countries »

Source: Adjustment in Euro Area Deficit Countries : Progress, Challenges, and Policies

Volume/Issue: 2014/7

Series: Staff Discussion Notes

Author(s): Thierry Tressel , Shengzu Wang , Joong Kang , Jay Shambaugh , Jörg Decressin , and Petya Koeva Brooks

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 July 2014

ISBN: 9781498373814

Keywords: European Economic and Monetary Union, Europe, Euro Area, Current account deficits, Crisis, Current account, Rebalancing, Competitiveness, External stability, Labor market

Imbalances within the euro area have been a defining feature of the crisis. This paper provides a critical analysis of the ongoing rebalancing of euro area 'deficit economies' (Greece, Ireland, Portugal, and Spain)...

Global Imbalances
			: The Role of Non-Tradabletotal Factor Productivity in Advanced Economies

Global Imbalances : The Role of Non-Tradabletotal Factor Productivity in Advanced Economies »

Volume/Issue: 2009/63

Series: IMF Working Papers

Author(s): Alessandro Rebucci , Nicoletta Batini , Pietro Cova , and Massimiliano Pisani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

DOI: http://dx.doi.org/10.5089/9781451872101.001

ISBN: 9781451872101

Keywords: trade deficit, non-tradable sector, GEM, tfp, tradable goods, elasticity of substitution, intermediate goods, terms of trade,

This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of the United States, the euro area, and Japan in the emergence and evolution of today's global tra...

The Behavior of Nontradable Goods Prices in Europe
			: Evidence and Interpretation

The Behavior of Nontradable Goods Prices in Europe : Evidence and Interpretation »

Volume/Issue: 1993/45

Series: IMF Working Papers

Author(s): Jose De Gregorio , Thomas Krueger , and Alberto Giovannini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1993

DOI: http://dx.doi.org/10.5089/9781451974263.001

ISBN: 9781451974263

Keywords: exchange rate, nontradable goods, real exchange rate, tradable goods, exchange rates

This paper examines the evolution of the relative price between tradable and nontradable goods in a group of European countries. A model of an open economy is used to analyze different factors that can account for...

A Noteon Terms of Trade Shocks and the Wage Gap

A Noteon Terms of Trade Shocks and the Wage Gap »

Volume/Issue: 2010/279

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2010

DOI: http://dx.doi.org/10.5089/9781455210862.001

ISBN: 9781455210862

Keywords: Non-tradable goods, terms of trade shocks, distributive conflict, terms of trade, tradable goods, skilled workers, unskilled workers, Neoclassical Models of Trade, Nonrenewable Resources and Conservation: Other,

Using Chilean data, we document that for resource-rich small open economies the effects of terms of trade shocks on the wage gap (between skilled and unskilled workers) depend on factor intensities in the non-trada...

Macroeconomic Effects of Sovereign Restructuring in a Monetary Union
			: A Model-based Approach

Macroeconomic Effects of Sovereign Restructuring in a Monetary Union : A Model-based Approach »

Volume/Issue: 2013/269

Series: IMF Working Papers

Author(s): Lorenzo Forni , and Massimiliano Pisani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 December 2013

DOI: http://dx.doi.org/10.5089/9781484333754.001

ISBN: 9781484333754

Keywords: DSGE modeling, sovereign restructuring, monetary union, intermediate goods, elasticity of substitution, tradable goods, domestic firms, Open Economy Macroeconomics, General,

We assess the macroeconomic effects of a sovereign restructuring in a small economy belonging to a monetary union by simulating a dynamic general equilibrium model. In line with the empirical evidence, we make the...

Cameroon
			: Background Papers and Statistical Appendix

Cameroon : Background Papers and Statistical Appendix »

Volume/Issue: 1995/5

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 1995

DOI: http://dx.doi.org/10.5089/9781451807981.002

ISBN: 9781451807981

Keywords: domestic demand, tradable goods, balance of payments, tax reform, terms of trade

This paper describes economic and financial developments in Cameroon during the 1990s. Cameroon's economic and financial situation continued to deteriorate at a rapid pace in 1993/94. Real GDP growth was negative f...

Welfare Gains of Aid Indexation in Small Open Economies

Welfare Gains of Aid Indexation in Small Open Economies »

Volume/Issue: 2008/101

Series: IMF Working Papers

Author(s): Anubha Dhasmana

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2008

DOI: http://dx.doi.org/10.5089/9781451869620.001

ISBN: 9781451869620

Keywords: Volatility, Business Cycle, terms of trade shocks, trade shocks, tradable goods,

Foreign aid flows to poor, aid-dependent economies are highly volatile and pro-cyclical. Shortfalls in aid coincide with shortfalls in GDP and government revenues. This increases the consumption volatility in aid d...

Aggregate Investment Expenditures on Tradable and Nontradable Goods

Aggregate Investment Expenditures on Tradable and Nontradable Goods »

Volume/Issue: 2008/45

Series: IMF Working Papers

Author(s): Rudolfs Bems

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

DOI: http://dx.doi.org/10.5089/9781451869071.001

ISBN: 9781451869071

Keywords: tradable and nontradable goods, expenditure, expenditures, investment expenditures, input-output, expenditure share,

This paper shows that aggregate investment expenditure shares on tradable and nontradable goods are very similar across countries and regions. Furthermore, the two expenditure shares have remained close to constant...

The Declining Importance of Tradable Goods Manufacturing in Australia and New Zealand
			: How Much Can Growth Theory Explain?

The Declining Importance of Tradable Goods Manufacturing in Australia and New Zealand : How Much Can Growth Theory Explain? »

Volume/Issue: 2009/16

Series: IMF Working Papers

Author(s): Benjamin Hunt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2009

DOI: http://dx.doi.org/10.5089/9781451871630.001

ISBN: 9781451871630

Keywords: Deindustrialization, Unbalanced Growth, tradable goods, inflation, elasticity of substitution, price inflation, trading partners,

In this paper, the IMF's new Global Economy Model (GEM) is used to estimate the contribution of unbalanced growth to the decline in the share of goods production in Australia and New Zealand. The simulation results...

Optimal Borrowing Policies for Developing Countries
			: The Cases of Korea, the Philippines, and Thailand

Optimal Borrowing Policies for Developing Countries : The Cases of Korea, the Philippines, and Thailand »

Volume/Issue: 1987/41

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 1987

DOI: http://dx.doi.org/10.5089/9781451976151.001

ISBN: 9781451976151

Keywords: external debt, current account, external borrowing, tradable goods, current account deficit

This paper develops a theoretical framework for analyzing external debt policies of developing countries and applies it to assess the cases of three Asian countries, namely Korea, the Philippines, and Thailand. The...