Structural Change and the Current Account: The Case of Germany
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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Using empirical evidence from panel analysis of current account dynamics and of bilateral trade balances, the paper argues that the large German current account surplus during the 2000s can be explained by an increasing gap between productivity growth in manufacturing vis-à-vis services. Such a gap is due not only to improvements in the...
