Economics, Econometrics and Finance
8 years ago

New Zealand's Trade Deficit Broken Down into Structural, Imported, and Local Components

Economic Record
Structural Balance of Trade Deficits in a Small Open Economy with Exogenous Capital Flows: A Monetary Approach*
Heinrich W. Ursprung

Paper Summary

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The article presents a model that breaks down trade deficits into different components using a monetary approach and a Scandinavian model of price and wage determination. The researchers show that trade deficits can be divided into structural, imported, and domestic components. They provide an example using the economy of New Zealand.