In this paper, we show that the recent financial crisis has significantly affected the potential total factor productivity (TFP) of the four largest euro area economies, as well as that of the rest of the euro area. We used a reduced-form equation of TFP, based on an approach recently developed...

In order to examine innovation diffusion and convergence processes, we study productivity trends, trend breaks and levels for 13 advanced countries over 1890-2012. We highlight two productivity waves, a big one following the second industrial revolution and a small one following the ICT...

Based on a dynamic open-economy macroeconomic model, this paper aims at understanding the contribution of domestic financial underdevelopment to foreign reserve accumulation in some emerging market economies, especially in China. It is argued that foreign reserve accumulation is part and parcel...

We study production factor adjustment taking into account factor utilisation in multiple dimensions (labour and capital working time, capital capacity utilisation) through a unique survey among French manufacturing firms. This survey also allows us to examine the impact of obstacles to...

Numerous economic studies have highlighted that ICT investment expenditure appears to be greater in the field of services, and above all in certain activities such as financial services and wholesale trade, than in industry. This analysis examines whether the investment data compiled by national...

Depuis le debut des annees 1990, l'investissement total des secteurs marchands (SQS-EI, administrations privees, etablissements de credit et entreprises d'assurance) semble connaitre un niveau plus failbe que celui que conduirait a prevoir la dynamique qui prevalait dans les annees 1980. Les...

We present a comparable set of results on the monetary transmission channels on firm investment for the four largest euro-area countries (Germany, France, Italy and Spain). With particularly rich micro datasets for each country containing over 215,000 observations from 1985 to 1999, we ex-plore...

Recent economic literature has identified sizeable differences across industrialised countries in the diffusion of Information and Communication Technologies (ICTs) throughout the production structure. This paper addresses the question of whether differences in the price elasticity of demand for...

Depuis le debut des annees 1990, l'investissement total des secteurs marchands (SQS-EI, administrations privees, etablissements de credit et entreprises d'assurance) semble connaitre un niveau plus failbe que celui que conduirait a prevoir la dynamique qui prevalait dans les annees 1980. Les...