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The Transmission of Productivity and Investment Shocks in the Asia Pacific Region

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  • McKibbin, W.J.

Abstract

An important aspect of macroeconomic interdependence in the Asia Pacific region is the adjustment of trade and current account balances in response to changes in saving and investment rates in individual economies. Greater trade flows, reliance on imported intermediate goods as well as more integrated capital markets imply that shifts in private or public saving and investment rates in an economy in the region can potentially have large impacts on other economies. This paper explores the quantitative nature of these linkages by focusing on a number of shocks within the context of a new dynamic multi-sector global model called the Asia-Pacific G-Cubed Model (AP-GCUBED). This model integrates sectoral adjustment with macroeconomic interdependence including explicit treatment of capital flows to explore the implications of a variety of productivity and investment shocks in the Asia Pacific Region.

Suggested Citation

  • McKibbin, W.J., 1996. "The Transmission of Productivity and Investment Shocks in the Asia Pacific Region," Papers 129, Brookings Institution - Working Papers.
  • Handle: RePEc:fth:brooki:129
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    TRADE POLICY ; INVESTMENTS;

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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