Showing 1 - 10 of 6,109
We study the stock market effects of the arrival of the three rounds of "stimulus checks" to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of retail-dominated portfolios....
Persistent link: https://www.econbiz.de/10013172127
This study is an attempt to evaluate the effects of product and labour market regulations on industry productivity …-factor productivity is negatively and significantly influenced by both indicators of industrial prices from same industry and weighted … all countries could expect sizeable gains in multifactor productivity from deregulation reforms …
Persistent link: https://www.econbiz.de/10012458102
We investigate the implications of extra-normal government spending under the COVID-19 pandemic for commercial bank lending growth between 2019Q4 and 2020Q4 in a large sample of over 3000 banks from 71 countries. We control for pre-pandemic structural factors, bank characteristics and government...
Persistent link: https://www.econbiz.de/10013172181
This paper shows how the richer frequency and variety of fiscal policy shocks available in an international sample can be analyzed recognizing the heterogeneity that exists across different countries. The main conclusion of our empirical analysis is that the question "what is the fiscal policy...
Persistent link: https://www.econbiz.de/10012461385
In lower-income countries, the economic contractions that accompany lockdowns to contain the spread of COVID-19 can increase child mortality, counteracting the mortality reductions achieved by the lockdown. To formalize and quantify this effect, we build a macro-susceptible-infected-recovered...
Persistent link: https://www.econbiz.de/10012585409
The collapse of economic activity in 2020 from COVID-19 has been immense. An important question is how much of that resulted from government restrictions on activity versus people voluntarily choosing to stay home to avoid infection. This paper examines the drivers of the collapse using cellular...
Persistent link: https://www.econbiz.de/10012481627
This paper uses the onset of COVID-19 to examine how countries construct their policy packages in response to a severe negative shock. We use several new datasets to track the use of a large variety of policy tools: announced fiscal stimulus (both above- and below-the-line), monetary policy...
Persistent link: https://www.econbiz.de/10014287372
time. A key question is, has the productivity distribution also spread out across worker skill levels over time? Using our … calculations of productivity by skill level for the U.S., we show that the distributions of both wages and productivity have spread … out over time, as the right tail lengthens for both. We add OECD countries, showing that the wage-productivity correlation …
Persistent link: https://www.econbiz.de/10013477226
We study the productivity-pay relationship in the United States and Canada along two dimensions. The first is … divergence: the degree to which the levels of productivity and pay have diverged. The second is delinkage: the degree to which … incremental increases in the rate of productivity growth translate into incremental increases in the rate of growth of pay …
Persistent link: https://www.econbiz.de/10012794576
Starting from the same level of productivity and per-capita income as the United States in the mid-nineteenth century … productivity has almost converged, its income per person has leveled off at about three-quarters of America's. How could Europe be … about 8 percent below the American level rather than the 25 percent implied by a comparison of measured income per capita. A …
Persistent link: https://www.econbiz.de/10012468028