Global rebalancing with gravity
measuring the burden of adjustment
by Robert Dekle
"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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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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| December 22, 2020 | Edited by MARC Bot | import existing book |
| December 10, 2009 | Created by WorkBot | add works page |