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which governments shape innovation, and dwarf all other public subsidies for innovation. We examine the impact of government … funding for R&D - and defense-related R&D in particular - on privately conducted R&D, and its ultimate effect on productivity …-country differences in private R&D investment are due to cross-country differences in defense R&D expenditures. We also find evidence of …
Persistent link: https://www.econbiz.de/10012858206
business size in an industry fosters growth in terms of total factor productivity (TFP). The results suggest that the overall …
Persistent link: https://www.econbiz.de/10013316793
-distributed firm productivity and fixed costs of exporting, predicts that, conditional on the fixed costs of exporting, all variation … of firm productivity allows the Melitz model to successfully match the role of the intensive margin evident in the EDD … estimate a generalized Melitz model with a joint lognormal distribution for firm productivity, fixed costs and demand shifters …
Persistent link: https://www.econbiz.de/10012890632
How costly is the misallocation of production that we might expect to result from distortions such as market power, incomplete contracts, taxes, regulations, or corruption? This paper develops new tools for the study of misallocation that place minimal assumptions on firms’ underlying...
Persistent link: https://www.econbiz.de/10014347985
In this paper we study the quantitative macroeconomic effects of public education spending in USA for the post-war period. Using comparable measures of human and physical capital, from Jorgenson and Fraumeni (1989, 1992a,b), we calibrate a standard dynamic general equilibrium model where human...
Persistent link: https://www.econbiz.de/10013316996
IT investment in any sectors, it does significantly improve labor productivity for firms in manufacturing and in …, cloud usage is expected to increase the productivity of firms, as it allows them to quickly customize the IT they require to …
Persistent link: https://www.econbiz.de/10014076705
Over the last decades, hours worked per capita have declined substantially in many OECD economies. Using a neoclassical growth model with endogenous work-leisure choice, we assess the role of trend growth slowdown in accounting for the decline in hours worked. In the model, a permanent reduction...
Persistent link: https://www.econbiz.de/10013222213
This paper examines the impact of labour and product market reforms on economic growth in 25 OECD countries between 1985 and 2013, and tests whether this impact is conditioned by the fiscal policy stance, i.e. whether there are fiscal expansions or adjustments. Our local projection results...
Persistent link: https://www.econbiz.de/10012829322
productivity in the rest of the economy. To separate exogenous gains in ICT from other technological progress, we use the relative …
Persistent link: https://www.econbiz.de/10013314751
This paper studies the effect of structural change on the historical path of aggregate labor productivity growth for a … that structural change may have on future productivity growth. We document that the observed reallocation of economic … activity since the 1970s towards the service sector has exerted a strongly negative effect on aggregate productivity growth in …
Persistent link: https://www.econbiz.de/10013211112