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We study the impact of the Covid-19 pandemic on Euro Area inflation and how it compares to the experiences of other countries, such as the United States, over the two-year period 2020-21. Our model-based calibration exercises deliver four key results: 1) Compositional effects - the switch from...
Persistent link: https://www.econbiz.de/10013334457
We investigate the effects of input variety creation and destruction on both micro- and macroeconomic outcomes using detailed data from Belgium. We estimate that marginal costs rise by 0.6% for every 1% of suppliers lost. We show that this elasticity measures the area under the input demand...
Persistent link: https://www.econbiz.de/10014287332
flexibility is mainly driven by movers and short tenure workers. The cross-country comparison suggests that the relatively high …
Persistent link: https://www.econbiz.de/10012465626
United States relative to Japan. High productivity growth in the traded sector of the Japanese economy results in a … continuous fall in the prices of traded goods relative to nontraded goods in Japan. In order to keep U.S. traded goods …
Persistent link: https://www.econbiz.de/10012477152
growth varies considerably over time and across the four countries, and it is always less important, except in Japan, than … Japan (30%), while TFP levels are very close in France, the United Kingdom and the United States, but much lower (40%) in … Japan …
Persistent link: https://www.econbiz.de/10012463072
fall, the West and Japan see it rise by one fifth by 2030 and by three fifths by 2100. These wage increases are over and …, and economic transition paths of China, Japan, the U.S., and the EU. Each of these countries/regions is entering a period …
Persistent link: https://www.econbiz.de/10012467008
lackluster, like Japan, have done surprisingly well in terms of GDP growth per working-age adult. Indeed, from 1998 to 2019 …, Japan has grown slightly faster than the U.S. in terms of per working-age adult: an accumulated 31.9% vs. 29.5%. Furthermore …
Persistent link: https://www.econbiz.de/10014437045
We consider a neoclassical interpretation of Germany and Japan's rapid postwar growth that relies on a catch … and investment, we are able to capture many of the key empirical properties of Germany and Japan's postwar transitions …
Persistent link: https://www.econbiz.de/10012467958
formal quantitative analysis. We begin with studies of the Dutch Republic, England, the U.S., France, Germany and Japan that …
Persistent link: https://www.econbiz.de/10012470401
Group-of-Five (G-5) countries: France, West Germany, Japan, United Kingdom and United states. It is assumed that all … France, West Germany and Japan, and between 8 and 10 percent per annum for the U.K. and the U.S. for the period under study …, the productive efficiencies of France, West Germany and Japan rose rapidly from less than 40 percent of the U.S. level in …
Persistent link: https://www.econbiz.de/10012475512