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An extensive literature on the convergence of productivity between countries examines whether productivity is pulled … use the wide dispersion of productivity across firms to explore convergence to the national frontier. Given this within …
Persistent link: https://www.econbiz.de/10005123710
We study the extent of macroeconomic convergence/divergence among euro area countries. Our analysis focuses on four … union as a convergence factor by using non-euro developed economies and the pre-EMU period as control samples. …
Persistent link: https://www.econbiz.de/10011083904
Composition of the euro area workforce evolves over time and in response to changing labour market conditions. We construct an estimate of growth in euro area labour quality over the period 1983-2004 and show that labour quality has grown on average by 0.6% year-on-year over this time period....
Persistent link: https://www.econbiz.de/10005662236
We study the issue of income convergence across countries and regions with a Bayesian model which allows us to use … information in an efficient and flexible way. We argue that the very slow convergence rates to a common level of per-capita income … introduces in the results. Our approach permits the estimation of different convergence rates to different steady states for each …
Persistent link: https://www.econbiz.de/10005067447
This Paper highlights a problem in using the first-differenced GMM panel data estimator to estimate cross-country growth regressions. When the time series are persistent, the first-differenced GMM estimator can be poorly behaved, since lagged levels of the series provide only weak instruments...
Persistent link: https://www.econbiz.de/10005504299
This paper extends the standard growth regression model by adding an assumption that a country follows the global technology frontier either fully or partially. This additional assumption changes significantly the growth regression model and its results in three main ways. First, it shows that...
Persistent link: https://www.econbiz.de/10011083897
manufacturing suggest that convergence of GDP per worker must have occurred through trends in other sectors and through …
Persistent link: https://www.econbiz.de/10005788874
Recent empirical studies tend to confirm the importance of investment in human and technological capital as determinants of growth. Extensions of the neoclassical model that incorporate these factors explain rather well the long-run growth experience of a large sample of countries, and are...
Persistent link: https://www.econbiz.de/10005791332
study of the convergence hypothesis. The data show limited intra-distribution mobility in incomes across economies and thus …, little convergence. The analysis uncovers some `convergence club'-like dynamics, and reveals the wide diversity in growth …
Persistent link: https://www.econbiz.de/10005661869
Pressure on public finances has increased scrutiny of public support for innovation. We examine two particular issues. First, there have been many recent calls for the (relatively new) UK R&D subsidy to be extended to other "research" activities, such as software. Second, argument still rages...
Persistent link: https://www.econbiz.de/10008468645