Replication data for: Demand and Defective Growth Patterns: The Role of the Tradable and Non-tradable Sectors in an Open Economy
Principal Investigator(s): View help for Principal Investigator(s) Sandile Hlatshwayo; Michael Spence
Version: View help for Version V1
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Project Citation:
Hlatshwayo, Sandile, and Spence, Michael. Replication data for: Demand and Defective Growth Patterns: The Role of the Tradable and Non-tradable Sectors in an Open Economy. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112785V1
Project Description
Summary:
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This paper examines the underlying structural elements of US growth patterns, pre- and post-crisis. Prior to the recession, the US economy exhibited a defective growth pattern driven by outsized domestic demand. As domestic aggregate demand retreats to more sustainable levels relative to total income, the tradable side of the economy is a catalyst for restoring strong growth. A structural rebalancing is already underway; although it is only a third of the economy, the tradable sector generated more than half of gross gains in value-added since the start of the recovery. However, distributional issues loom on the horizon.
Scope of Project
JEL Classification:
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E23 Macroeconomics: Production
E32 Business Fluctuations; Cycles
F43 Economic Growth of Open Economies
G01 Financial Crises
E23 Macroeconomics: Production
E32 Business Fluctuations; Cycles
F43 Economic Growth of Open Economies
G01 Financial Crises
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