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The acceleration of productivity since 1995 has prompted a debate over whether the economy's underlying growth rate will remain high. In this paper, we propose a methodology for estimating trend growth that draws on growth theory to identify variables other than productivity - namely consumption...
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Remarks before the Puerto Rico Chamber of Commerce Annual Convention, Fajardo, Puerto Rico.
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industries face little competitive pressure to reduce discrimination, an increase in competition from increased trade should lead … wage gap that are unrelated to competitive pressures. The findings indicate that increased competition through trade did …
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. Second, greater competition may improve macroeconomic management by increasing the responsiveness of wages and prices to …We estimate the macroeconomic benefits and international spillovers of an increase in competition using a general …-equilibrium simulation model with nominal rigidities and monopolistic competition in product and labor markets. We draw three conclusions …
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