| Description |
1 online resource (17 pages) |
| Series |
IMF Working Papers, 2227-8885 ; Working Paper No. 09/16 |
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IMF Working Papers ; Working Paper no. 09/16
|
| Contents |
I. Introduction -- II. An Overview of The Global Economic Model -- A. Households -- B. Firms -- C. Government -- D. Parameterization -- III. The Stylized Facts -- IV. Simulation Results -- A. Some Broad Features of the Simulation Results -- B. Effect of Unbalanced Growth on Tradables Production -- C. Internal and External Contributions -- V. Conclusions -- References -- Tables -- 1. Average Annual Labor Productivity Growth 1995 to 2004 -- 2. Change Over Ten Years in Share of GDP -- 3: Simulated Changes Over Ten Years in Share of GDP -- Figures -- 1. Share of Tradable Goods Production in GDP -- 2. Annual Labor Productivity Growth -- 3. Some Broad Macroeconomic Consequences of Unbalanced Growth -- Appendixes -- Appendix I. Calibration Details -- Appendix Tables -- 1: Key Steady-State Calibration Values -- 2. Non-Commodity Tradables as Percent of GDP -- 3. Production and Trade in Commodities as Shares of GDP -- 4: Key Behavioral Parameter Values |
| Summary |
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 suggest that faster productivity growth in the tradable goods sector in Australia, New Zealand, and their major trading partners accounts for a significant portion of the relative decline in the importance of goods production. Over the 1995 to 2004 period, unbalanced growth explains more than 80 percent of the decline in goods production in both countries |
| Notes |
Available in PDF, ePUB, and Mobi formats on the Internet |
| Subject |
Economic development -- Australia -- Econometric models
|
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Economic development -- New Zealand -- Econometric models
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Economic development -- Econometric models
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Australia
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New Zealand
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| Form |
Electronic book
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| Author |
Hunt, Ben
|
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International Monetary Fund.
|
| ISBN |
1451915993 |
|
9781451915990 |
|
