Global rebalancing with gravity
measuring the burden of adjustment
by Robert Dekle
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"We use a forty-two country model of production and trade to assess the implications of eliminating current account imbalances for relative wages, relative GDP's, real wages, and real absorption. How much relative GDP's need to change depends on flexibility of two forms: factor mobility and the adjustment in sourcing of imports, with more flexibility requiring less change. At the extreme, US GDP falls by 30 percent relative to the world's. Because of the pervasiveness of nontraded goods, however, most domestic prices move in parallel with relative GDP, so that changes in real GDP are small"--National Bureau of Economic Research web site.
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Global rebalancing with gravity: measuring the burden of adjustment
2008, National Bureau of Economic Research
Electronic resource
in English
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Book Details
Edition Notes
Title from PDF file as viewed on 6/16/2008.
Includes bibliographical references.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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- Created September 27, 2008
- 5 revisions
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| December 22, 2020 | Edited by MARC Bot | import existing book |
| July 29, 2012 | Edited by VacuumBot | Updated format '[electronic resource] :' to 'Electronic resource' |
| December 15, 2009 | Edited by WorkBot | link works |
| October 28, 2008 | Edited by ImportBot | Found a matching Library of Congress MARC record |
| September 27, 2008 | Created by ImportBot | Imported from Library of Congress MARC record |