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The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy

Hayashi, Fumio - 2006

The question we address in this paper is why the Japanese miracle didn't take place until after World War II. For much of the pre-WWII period, Japan's real GNP per worker was not much more than a third of that of the U.S., with falling capital intensity. We argue that its major cause is a...

Persistent link: https://www.econbiz.de/10012466588

Misallocation, Selection and Productivity : A Quantitative Analysis with Panel Data from China

Adamopoulos, Tasso - 2017

We use household-level panel data from China and a quantitative framework to document the extent and consequences of factor misallocation in agriculture. We find that there are substantial frictions in both the land and capital markets linked to land institutions in rural China that...

Persistent link: https://www.econbiz.de/10012455641

Catching-Up to Foreign Technology? Evidence on the "Veblen-Gerschenkron" Effect of Foreign Investments

Peri, Giovanni - 2004

The presence of foreign multinational enterprises may benefit local economies. In particular, highly productive foreign-owned firms may promote technological catch-up of local firms. Such channel of spillovers is defined as "Veblen-Geschenkron" effect of Foreign Direct Investments and is...

Persistent link: https://www.econbiz.de/10012467794

Transition Dynamics in Vintage Capital Models : Explaining the Postwar Catch-Up of Germany and Japan

Gilchrist, Simon - 2004

We consider a neoclassical interpretation of Germany and Japan's rapid postwar growth that relies on a catch … and investment, we are able to capture many of the key empirical properties of Germany and Japan's postwar transitions …

Persistent link: https://www.econbiz.de/10012467958

Management Practices, Workforce Selection and Productivity

Bender, Stefan - 2016

and firm-level productivity in Germany. In our preferred TFP estimates only a small fraction of this correlation is …

Persistent link: https://www.econbiz.de/10012456573

Inflation and Activity – Two Explorations and their Monetary Policy Implications

Blanchard, Olivier - 2015

We explore two issues triggered by the crisis. First, in most advanced countries, output remains far below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a breakdown of the relation between inflation and...

Persistent link: https://www.econbiz.de/10012456944

Unemployment in the Great Recession : A Comparison of Germany, Canada and the United States

Hoffmann, Florian - 2014

States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … did not change substantially in Germany, increased and remained at relatively high levels in the United States, and … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains …

Persistent link: https://www.econbiz.de/10012457972

The Causal Effect of Unemployment Duration on Wages : Evidence from Unemployment Insurance Extensions

Schmieder, Johannes - 2013

paper shows that UI extensions at age thresholds reduced reemployment wages of job searchers in Germany. The UI extensions …

Persistent link: https://www.econbiz.de/10012458891

Learning Capitalism the Hard Way--Evidence from German Reunification

Triebs, Thomas P. - 2013

We develop a model of firm learning in volatile markets with noisy signals and test its predictions using historical data from the Ifo Institute's Business Climate Survey. We find that firms' forecasts improve as they age. We also exploit German Reunification as a natural experiment where firms...

Persistent link: https://www.econbiz.de/10012459454

Propagation and Smoothing of Shocks in Alternative Social Security Systems

Auerbach, Alan - 2013

Even with well-developed capital markets, there is no private market mechanism for trading between current and future generations, so a potential role for public old-age pension systems is to spread economic and demographic shocks among different generations. This paper evaluates the smoothing...

Persistent link: https://www.econbiz.de/10012459525