Over the last decade, GDP growth in emerging Asia was roughly twice as fast as average world growth. The IMF’s Global Economy Model (GEM) is used to estimate the impact that emerging Asia’s growth differential has had on Australia. The simulation analysis, which replicates some key features...

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...

The recent productivity experience of the New Zealand economy is examined using a cyclically-adjusted or trend measure of Total Factor Productivity (TFP). On the basis of this measure, the results of estimating a leader-follower convergence relationship suggest that productivity in New Zealand...

China's transition to a new growth model continues and the impact has been felt across the globe. Several trends contribute to the 'maturing' of China's economy: i) structural slowing on the convergence path; ii) on-shoring deepening; and iii) demand rebalancing from investment towards...

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...

China's transition to a new growth model continues and the impact has been felt across the globe. Several trends contribute to the 'maturing' of China's economy: i) structural slowing on the convergence path; ii) on-shoring deepening; and iii) demand rebalancing from investment towards...