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In Saltari et al. (2012, 2013) we estimated a dynamic model of the Italian economy. The main result of those papers is that the weakness of the Italian economy in the last two decades is due to the total factor productivity slowdown. In those models the information and communication technology...
Persistent link: https://www.econbiz.de/10011109579
In Saltari et al. (2012, 2013) we estimated a dynamic model of the Italian economy. The main result of those papers is that the weakness of the Italian economy in the last two decades has been the total factor productivity slowdown. The aim of this paper is to investigate the roots of this...
Persistent link: https://www.econbiz.de/10011109909
The aim of this paper is to investigate the roots of the Italian total factor productivity slowdown. The analysis focusses on the specific pattern of technical progress in determining the TFP dynamics. This analysis can not be done with the Cobb-Douglas technology but requires the employ of a...
Persistent link: https://www.econbiz.de/10011111549
The current financial turmoil has led many writers in the area of Islamic finance to revive an old edict in Islamic finance – no risk, no gain. I have discussed this axiom in my earlier writings and have not come across anything in recent advocacy of its proponents that could make me change my...
Persistent link: https://www.econbiz.de/10011109190
The implementation of new forms of organization of the work (NFWO) has been recurrently applied in the medium and large corporations, especially those whose activity is centered in traditional industrial sectors. With virtues and inconvenients the NFWO seems to be apparently to be kept out of...
Persistent link: https://www.econbiz.de/10009397196
The knowledge theoretic view of organization of production postulates that ICT, tasks and hierarchies intertwine … utilization narrows organizations yet CT expands middle management. Second, industry tasks govern organizational outcomes …. Cognitive tasks flatten and technical/physical tasks narrow hierarchies. Third, the descriptive evidence suggests that …
Persistent link: https://www.econbiz.de/10011114354
This paper explores the relationship between factor substitution in production and the steady-sate level of capital stock in a growing economy. Unlike the foregoing studies on this topic that have exclusively utilized one-sector growth models, we consider a two-sector economy where investment...
Persistent link: https://www.econbiz.de/10011109476
Empirical evidence suggests that poorer countries have larger portions of predation. We formulate a neoclassical growth model in which agents devote time either to produce or predate. When the elasticity of substitution between labor and capital is lower than one, the labor share rises with...
Persistent link: https://www.econbiz.de/10011259207
This paper analyzes the valorization process in Chile, Japan, Netherlands and United States, estimating advanced constant and variable capital, turnover speed, capital composition and profit rate on total advanced capital. Furthermore, it analyzes the role of turnover speed in the valorization...
Persistent link: https://www.econbiz.de/10011107446
This paper aims to understand the pattern of the labor share of income during the development process. We highlight a U-shapped relationship between development and the labor share. Our theory emphasizes the interplay between firms'monopsony power and the size of the informal sector when the...
Persistent link: https://www.econbiz.de/10011107992