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Proponents of minimum wage increases have argued that such hikes can serve as an engine of economic growth and assist low-skilled individuals during downturns in the business cycle. However, a review of the literature provides little empirical support for these claims. Minimum wage increases...
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Which structural reforms affect labour productivity growth in developing countries? This paper answers this question by … that financial reforms, trade reforms, and product market reforms boost labour productivity growth. By documenting the main … channels, our results reveal that the reforms studied stimulate labour productivity growth by inducing dynamic efficiency …
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This article summarizes the main findings on problems related to the measurement and identification of business cycles. The aim of this study is to define and identify the determinants of business cycles. This paper provides an overview of the methodology and its future course. Our investigation...
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The relationship between recessions and productivity has been the focus of an important body of theoretical and … productivity in the aftermath of recessions. Our method allows us to distinguish between frontier technology and (in … reveal that the average cumulative impact of recessions on productivity up to four years after its end is negative and …
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