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At a macroeconomic level, infrastructure and productivity are positively correlated in the United States and other … infrastructure to productivity, or the reverse. This paper focuses on roads, and finds that vehicle-intensive industries benefit … disproportionately from road-building: when road growth changes, productivity growth changes more in industries that are more vehicle …
Persistent link: https://www.econbiz.de/10005368200
countries. The paper begins by surveying earlier estimates of relative productivity and unit labor cost levels and evaluating … productivity translated into dollars at purchasing power parity exchange rates. These estimates are compared with results obtained …
Persistent link: https://www.econbiz.de/10005368260
Productivity rises in booms and falls in recessions. There are four main explanations for procyclical productivity: (i … are particularly important in explaining procyclical productivity. We argue that the reallocation effects that we identify …
Persistent link: https://www.econbiz.de/10005368278
Explanations of procyclical productivity playa key role in a variety of business-cycle models. Most of these models … aggregate productivity changes into several terms, each of which has an economic interpretation. However, many of these tenus …
Persistent link: https://www.econbiz.de/10005368386
Most growth models assume capital is homogeneous. This contradicts intuition and empirical evidence that the majority of technology is embodied in the capital stock. Classic papers from the late 1950's and 1960's show that non-optimization models display the same asymptotic growth rates whether...
Persistent link: https://www.econbiz.de/10005368406
, investment, average productivity and output . This evidence contrasts sharply with the results reported in a large and growing …
Persistent link: https://www.econbiz.de/10005368517
Most macroeconomic models imply that faster output growth tends to lower a country's trade balance by raising its imports with little change to its exports. Krugman (1989) proposed a model in which countries grow by producing new varieties of goods. In his model, faster-growing countries are...
Persistent link: https://www.econbiz.de/10005368519
While information technologies (IT) are credited with the recent acceleration in productivity in the United States …, many other industrial countries have not experienced a pickup in productivity growth. To explain this productivity … and slowed productivity growth in a number of industrial countries. We then develop a theoretical model with vintage …
Persistent link: https://www.econbiz.de/10005372583
Persistent link: https://www.econbiz.de/10010725172
a speech at the C. Peter McColough Roundtable Series on International Economics, Council on Foreign Relations, New York, New York, January 19, 2005, and at the C. Peter McColough Roundtable Series on International Economics, Council on Foreign Relations, New York, New York, on January 19, 2005
Persistent link: https://www.econbiz.de/10010725282