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well as through firm entry and exit – to productivity. We are motivated by the evidence in all countries studied of … raised questions about the theoretical underpinnings of the connection between reallocation and productivity (e.g. Levinsohn … products of resources of the various producers at all times, instantaneous aggregate productivity growth reflects only within …
Persistent link: https://www.econbiz.de/10005090762
productivity slowdown in the US economy of the early seventies. These matrices also allow me to compute the gap between the market …, disembodied information flows. I also find the productivity slowdown coincides with a change in the pattern of generation and …
Persistent link: https://www.econbiz.de/10005090774
Applied General Equilibrium models of trade failed to predict the sectoral changes in trade volumes following the Canada-US Free Trade Agreement. These models utilized a representative firm framework and used econometric estimates for the elasticities of substitution between home and foreign...
Persistent link: https://www.econbiz.de/10005027269
This appendix of our paper, "Demographic Change, Human Capital and Welfare", contains further material that could not be included in the paper due to space limitations. It is organized as follows. Section A contains the formal equilibrium definition. Section B provides more results on the fit of...
Persistent link: https://www.econbiz.de/10009291625
returns to firms' investment and depressed aggregate productivity. We employ US and European data for the 1990's to test the … productivity. We find that the use of social contacts helps find jobs one to two months sooner but leads to individual wage … discounts of 5\% to 7\% and produces negative externalities on aggregate productivity …
Persistent link: https://www.econbiz.de/10005085453
league, an improvement in the productivity of sporting services, and subsidies to college education. …
Persistent link: https://www.econbiz.de/10005085459
This paper compares the sources of wage growth of young workers in two countries with very different labor market institutions, the United States and Germany. It identifies the return to general human capital accumulation, and provides a lower and upper bound to wage growth due to firm-specific...
Persistent link: https://www.econbiz.de/10005085468
This paper suggests a solution to the puzzling finding documented in Moskowitz and Vissing-Jorgensen (2002) that the return to an index of private equity is equal to the return to the CRSP index of public equity even though investment in private firms is substantially riskier. It presents an...
Persistent link: https://www.econbiz.de/10005085472
of changes. The model reconciles the increase in female labor market participation with the timing of age …
Persistent link: https://www.econbiz.de/10005090752
A dynamic general equilibrium model of work, schooling, occupational and sectoral decisions is developed and estimated. The model is fit to data on life cycle employment, schooling, occupational and sectoral decisions, and on life cycle labor earnings, within and between cohorts observed in the...
Persistent link: https://www.econbiz.de/10005090875