A global model of recovery and rebalancing

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Publication Type pre-print
School or College College of Social & Behavioral Science
Department Economics
Creator Von Arnim, Rudiger Lennart
Other Author Bannister, Steve; Perry, Nathan
Title A global model of recovery and rebalancing
Date 2010-01-01
Description This paper presents an investigation of global recovery from the great recession and rebalancing of global external imbalances, using a global model of sixteen countries and composite regions. The model applies to the short run, and only to the real side. Key features are demand-driven output determination, pro-cyclical aggregate labor productivity, imperfect competition in product markets and simple bargaining in non-clearing labor markets, which together determine the functional distribution of income. Trade is modeled in a bilateral import matrix; particular attention is paid to international adjustment. Simulation results suggest that early exit from fiscal support threatens a fragile recovery. Further, domestic demand expansion and revaluation in real terms in surplus countries are necessary for rebalancing, and a variety of measures can be employed to achieve these goals.
Type Text
Publisher Oxford University Press
Dissertation Institution University of Utah
Language eng
Bibliographic Citation Von Arnim, R. L., Bannister, S., & Perry, N. (2010). A global model of recovery and rebalancing. Cambridge Journal of Economics.
Rights Management (c) Oxford University Press. This is a pre-copy-editing, author-produced PDF of an article accepted for publication in Cambridge Journal of Economics following peer review. The definitive publisher-authenticated version Von Arnim, R. L. (2010). Employment prospects: a global model of recovery and rebalancing. Cambridge Journal of Economics
Format Medium application/pdf
Format Extent 2,781,876 bytes
Identifier uspace,17714
ARK ark:/87278/s63v020w
Setname ir_uspace
Date Created 2012-09-28
Date Modified 2021-05-06
ID 708158
Reference URL https://collections.lib.utah.edu/ark:/87278/s63v020w
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