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Following the Trend: Tracking GDP when Long-Run Growth is Uncertain
Antolin-Diaz, Juan; Drechsel, Thomas; Petrella, Ivan - C.E.P.R. Discussion Papers - 2014
most important driver of changes in GDP growth for both the US and other advanced economies. When applied to real-time data …
Persistent link: https://www.econbiz.de/10011145426
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Determinants of Economic Growth: Will Data Tell?
Ciccone, Antonio; Jarocinski, Marek - C.E.P.R. Discussion Papers - 2007
Many factors inhibiting and facilitating economic growth have been suggested. Will international income data tell which matter when all are treated symmetrically a priori? We find that growth determinants emerging from agnostic Bayesian model averaging and classical model selection procedures...
Persistent link: https://www.econbiz.de/10005791701
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An Innovation Index Based on Knowledge Capital Investment: Definition and Results for the UK Market Sector
Clayton, Tony; Dal Borgo, Mariela; Haskel, Jonathan - C.E.P.R. Discussion Papers - 2009
could get more GDP without innovation by simply duplicating existing physical capital and labour (e.g. adding a second … aircraft and crew on an existing route). Thus we propose to measure innovation as the additional GDP over and above the … addition existing physical capital and labour. In our measure this is the contribution to GDP growth of market sector …
Persistent link: https://www.econbiz.de/10005124259
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The Rise and Fall of Spain (1270-1850)
Álvarez-Nogal, Carlos; Prados de la Escosura, Leandro - C.E.P.R. Discussion Papers - 2011
Two distinctive regimes are distinguished in Spain over half-a-millennium. A first one (1270s-1590s) corresponds to a high land-labour ratio frontier economy, pastoral, trade-oriented, and led by towns. Wages and food consumption were relatively high. Sustained per capita growth occurred from...
Persistent link: https://www.econbiz.de/10009001065
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Solow Residuals without Capital Stocks
Burda, Michael C; Severgnini, Battista - C.E.P.R. Discussion Papers - 2010
Using synthetic data generated by a prototypical stochastic growth model, we explore the quantitative extent of measurement error of the Solow residual (Solow 1957) as a measure of total factor productivity (TFP) growth when the capital stock is measured with error and when capacity utilization...
Persistent link: https://www.econbiz.de/10008611015
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Mismeasuring Long Run Growth. The Bias from Spliced National Accounts
Prados de la Escosura, Leandro - C.E.P.R. Discussion Papers - 2014
accounts and historical estimates are spliced. To allow for changes in relative prices, GDP benchmark years in national … accounts are periodically replaced with new and more recent ones. Thus, a homogeneous long-run GDP series requires linking … GDP levels and growth, particularly as an economy undergoes deep structural transformation. An inadequate splicing may …
Persistent link: https://www.econbiz.de/10011084295
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Knowledge Spillovers, ICT and Productivity Growth
Corrado, Carol; Haskel, Jonathan; Jona-Lasinio, Cecilia - C.E.P.R. Discussion Papers - 2014
This paper looks at the channels through which intangible assets affect productivity. The econometric analysis exploits a new dataset on intangible investment (INTAN-Invest) in conjunction with EUKLEMS productivity estimates for 10 EU member states from 1998 to 2007. We find that (a) the...
Persistent link: https://www.econbiz.de/10011084334
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The Role of Labour Market Changes in the Slowdown of European Productivity Growth
Dew-Becker, Ian; Gordon, Robert J - C.E.P.R. Discussion Papers - 2008
Throughout the post-war era until 1995 labour productivity grew faster in Europe than in the United States. Since 1995, productivity growth in the EU-15 has slowed while that in the United States has accelerated. But Europe’s productivity growth slowdown was largely offset by faster growth in...
Persistent link: https://www.econbiz.de/10005124319
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Small Scale Reservation Laws and the Misallocation of Talent
García-Santana, Manuel; Pijoan-Mas, Josep - C.E.P.R. Discussion Papers - 2011
percent of total GDP. However, this conspicuous type of size-dependent policy cannot account for the large gap in …
Persistent link: https://www.econbiz.de/10008854474
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Growing like China
Song, Zheng Michael; Storesletten, Kjetil; Zilibotti, … - C.E.P.R. Discussion Papers - 2009
This paper constructs a growth model that is consistent with salient features of the Chinese growth experience since 1992: high output growth, sustained returns on capital investments, extensive reallocation within the manufacturing sector, falling labor share and accumulation of a large foreign...
Persistent link: https://www.econbiz.de/10005123794