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This paper traces the effects of an appreciation of the deutsche mark with the help of a computable general equilibrium model under alternative structural policy scenarios. In the first scenario, characterized by severe structural rigidities, the contractionary effects of exchange rate...
Persistent link: https://www.econbiz.de/10014395794
collapsing investment and shrinking employment. Sharp declines in productivity, reflecting in part transition-related factors …
Persistent link: https://www.econbiz.de/10005263697
as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital …
Persistent link: https://www.econbiz.de/10009650613
This Selected Issues paper attempts to analyze the end-point problem and improve the quality of potential GDP estimates for Germany. It projects that Germany’s potential GDP growth will slow over the coming decade, mainly because of declining labor input. The paper focuses on a long-term...
Persistent link: https://www.econbiz.de/10005825173
growth from total factor productivity has been minor, while the high population growth poses a significant challenge to …
Persistent link: https://www.econbiz.de/10005825438
This paper undertakes a cross-country analysis of productivity growth at both the aggregate and sectoral level. It … finds that Asia's remarkable output growth over the past 40 years reflected both high investment, and rapid productivity … encouraged resource shifts from low- to high-productivity sectors. Looking ahead, sustaining rapid growth requires meeting a …
Persistent link: https://www.econbiz.de/10005826110
In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international real business cycle model and show that a thoughtful calibration of them along the lines of Raffo (2009) successfully addresses the "quantity", "international comovement",...
Persistent link: https://www.econbiz.de/10008671290
This paper estimates potential growth in the Philippines using different methodologies, and discusses growth prospects for the medium term. Several approaches can be used to estimate potential growth. It also describes a forecasting and monetary policy analysis system (FPAS) model. Using the...
Persistent link: https://www.econbiz.de/10011243322
the features that hamper job growth, investment, and productivity growth. This paper analyzes the impact of Basel III …
Persistent link: https://www.econbiz.de/10011243347
This Selected Issues paper on Papua New Guinea reports that although economic cycles have generally paralleled the many mineral sector booms and busts, the downward trend in growth rates may reflect other factors. Papua New Guinea’s economy is dominated by a large labor-intensive...
Persistent link: https://www.econbiz.de/10011243726