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This paper explores the role of stabilization policy in a model where firm entry responds to shocks and uncertainty. We evaluate stabilization policy in the context of a simple analytically solvable sticky price model, where firms have to prepay a fixed cost of entry. The presence of endogenous...
Persistent link: https://www.econbiz.de/10005497957
Persistent link: https://www.econbiz.de/10004971332
productivity growth in the US economy can be attributed to a technological acceleration within durable manufacturing and to …-factor productivity in the 88% of the economy outside of durable manufacturing. In comparison with the Great Inventions of 1860-1900, the …
Persistent link: https://www.econbiz.de/10005124176
This paper assesses the ‘one big wave’ in multi-factor productivity (MFP) growth for the United States since 1870. The … boosting productivity growth, followed by a reopening that contributed to the post-1972 productivity slowdown. …
Persistent link: https://www.econbiz.de/10005124204
capita income, whereas its labour productivity level -- notably in manufacturing -- remained relatively high. The Dutch …
Persistent link: https://www.econbiz.de/10005114219
As a result of debt enforcement problems, many high-productivity firms in emerging economies are unable to pledge … additional resources that flow to high-productivity firms after the reforms. We show that some of these resources do not come … from abroad, but instead from domestic low-productivity firms that are driven out of business as a result of the reforms …
Persistent link: https://www.econbiz.de/10011084650
leading to poor productivity performance are the most plausible explanation of Britain's relative decline. It is argued both …
Persistent link: https://www.econbiz.de/10005791602
productivity catch-up is rejected. A number of potential `ultimate' causes behind the slowdown are explored. An increasingly …
Persistent link: https://www.econbiz.de/10005791604
. Examining the sources of labour productivity growth in Mexican manufacturing, however, does not provide support for this … conclusion. Although we find that labour productivity levels vary almost in direct relation to establishment size, labour … productivity growth shows no systematic variation by size class. In fact, small establishments have had the same rate of labour …
Persistent link: https://www.econbiz.de/10005656467
This paper investigates the relationship between trade openness and the size of governments, both theoretically and empirically. We argue that openness can increase the size of governments through two channels: (1) a terms of trade externality, whereby trade lowers the domestic cost of taxation,...
Persistent link: https://www.econbiz.de/10005123927