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GDP is a closely watched indicator of the current health of the economy and an important tool of economic policy. It has been called one of the great inventions of the 20th Century. It is not, however, a persuasive indicator of individual wellbeing or economic progress. There have been calls to...
Persistent link: https://www.econbiz.de/10013334414
We study the impact of techies--engineers and other technically trained workers--on firm-level productivity. We first … structural econometric methods, we estimate the causal effect of techies on firm-level Hicks-neutral productivity in both … manufacturing and non-manufacturing industries. We find that techies raise firm-level productivity, and this effect goes beyond the …
Persistent link: https://www.econbiz.de/10014322729
W. Arthur Lewis argued that a new international economic order emerged between 1870 and 1913, and that global terms of trade forces produced rising primary product specialization and de-industrialization in the poor periphery. More recently, modern economists argue that volatility reduces growth...
Persistent link: https://www.econbiz.de/10012464805
Several recent studies have examined the tendency of regions within a nation to exhibit long-term convergence in per capita income levels. Barro and Sala-i-Martin (1991, 1992, 1995) have found a tendency towards convergence among the U.S. states, among Japanese prefectures, and among regions...
Persistent link: https://www.econbiz.de/10012473452
This paper focuses on the contribution to recent narrowing of the gap between Northern and Southern economies in GDP/capita, shares in world trade and market capitalization attributable both jointly and single to China, India, and Brazil (the three currently largest rapidly growing Southern...
Persistent link: https://www.econbiz.de/10012460976
In this paper we employ index number theory in addressing the problem of adjusting real national income and real … business sector;(ii) productivity growth or technical change; (iii) the effects on domestic real output of changes in the terms …
Persistent link: https://www.econbiz.de/10012477521
The standard source for pre-WWII global freight rate trends is the Isserlis British tramp shipping index. We think it … transported. Previous scholars have deflated their nominal freight rate indices by a price index that includes tradables not … indices for factor prices, we then calculate total factor productivity growth pre-war and interwar for five global routes …
Persistent link: https://www.econbiz.de/10012469171
factor productivity growth in countries where the capital-labour ratio has risen rapidly, e.g. the East Asian NICS, will … understate true productivity growth if the elasticity of substitution is less than one and there is labour augmenting technical … change. This note shows that this argument increases a Paasche measure of productivity, at the expense of lowering a …
Persistent link: https://www.econbiz.de/10012472148
understatement of input growth in manufacturing, and thus. overstatement of growth in productivity. GNP, and value-added in …) improvement in measured manufacturing productivity growth can be attributed to an increase in the rate of foreign and domestic … outsource is unrelated to its acceleration in productivity. In auditing the industry numbers, we found that a non …
Persistent link: https://www.econbiz.de/10012475333
productivity change." It reviews the criticisms made against that paper, especially the use of a utilization adjustment, and fin … slowdown in the growth of total factor productivity as implying, necessarily, a parallel slowdown in the technological …
Persistent link: https://www.econbiz.de/10012476438