economic performance measures encompassing levels, volatilities and growth rates of several income and employment variables …

suggest that growth differences can largely be explained by capital deepening and an ability to produce new technology in the …

This paper deals with economic growth in Europe. The special emphasis is in key institutional factors that are commonly … assumed to affect aggregate growth: functioning of labor markets, availability of labor and capital, and the size of … profitability and competitiveness do indeed constitute the main determinants of growth. However, also other variables like working …

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A … incumbents reduces growth and welfare. For example, a subsidy to incumbent R&D equivalent to 5% of GDP reduces welfare by about 1 …

derivative trades will lead to partial fragmentation of liquidity. As technology advances, we expect pooling of liquidity in one …

in certain country-specific aspects of banking technology. This paper argues that such comparisons of performance must …