Similar Search Results

Why is Measured Productivity so Low in Agriculture?

Herrendorf, Berthold - 2015

In poor countries, labor productivity in agriculture is considerably lower than in the rest of the economy. We assess … between the marginal value products of agriculture and non-agriculture are considerably smaller when measured through wages … than through labor productivities. Third, labor productivity in agriculture is severely mis-measured in the US …

Persistent link: https://www.econbiz.de/10013015078

Wages, Human Capital, and Structural Transformation

Herrendorf, Berthold - 2017

Average wages are considerably lower in agriculture than in the other sectors. We document this fact for thirteen …

Persistent link: https://www.econbiz.de/10012956718

Testing for Output Convergence: A Re-Examination

Cheung, Yin-Wong; Pascual, Antonio I. Garcia - CESifo - 2000

This paper investigates output convergence for the G7 countries using multivariate time series techniques. We consider both the null hypotheses of no convergence and convergence. It is shown that inferences on output convergence depend on which one of the two null hypotheses is considered....

Persistent link: https://www.econbiz.de/10005181495

Exchange Rate Misalignment Estimates - Sources of Differences

Cheung, Yin-Wong - 2013

We study the differences of currency misalignment estimates obtained from alternative datasets derived from two International Comparison Program (ICP) surveys. A decomposition exercise reveals that the year 2005 misalignment estimates are substantially affected by the ICP price revision....

Persistent link: https://www.econbiz.de/10013092474

Structural Transformation, Marketization, and Household Production Around the World

Bridgman, Benjamin - 2015

We provide evidence on household and market production in 36 countries since 1960. On average the household sector accounts for almost half of total hours worked. As GDP per capita increases, the employment share of household production in total hours worked initially declines and then hardly...

Persistent link: https://www.econbiz.de/10013012290

On the Allocation of Time -- A Quantitative Analysis of the U.S. and France

Duernecker, Georg - 2015

We study the allocation of time in the U.S. and in Europe during 1960-2010. We find that market hours decreased and leisure increased most in France and least in the U.S. Contrary to what standard theory predicts, home hours changed comparatively little. We show that the growth model with home...

Persistent link: https://www.econbiz.de/10013017367

Does the Chinese Interest Rate Follow the US Interest Rate?

Cheung, Yin-Wong - 2013

One argument for floating the Chinese renminbi (RMB) is to insulate China's monetary policy from the US effect. However, we note that both theoretical considerations and empirical results do not offer a definite answer on the link between exchange rate arrangement and policy dependence. We...

Persistent link: https://www.econbiz.de/10012753957

The Suitability of a Greater China Currency Union

Cheung, Yin-Wong - 2013

The study assesses the level of integration among the three Greater China economies (namely China, Hong Kong, and Taiwan) and examines the suitability of a Greater China currency union. Currently, the three economies have extensive trade and investment linkages. Our analyses show that these...

Persistent link: https://www.econbiz.de/10012754602

Cross-Country Relative Price Volatility : Effects of Market Structure

Cheung, Yin-Wong; Fujii, Eiji - 2021

Using annual data on nine manufacturing sectors of eighteen OECD countries, the article studies the implications of market structure for cross-country relative price variability. It is found that, in accordance with predictions from a standard markup pricing model, reductions in market...

Persistent link: https://www.econbiz.de/10013318560

Dissecting the PPP Puzzle : The Unconventional Roles of Nominal Exchange Rate and Price Adjustments

Cheung, Yin-Wong; Lai, Kon S.; Bergman, U. Michael - 2021

The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price adjustment, is shown to be the key engine governing the...

Persistent link: https://www.econbiz.de/10013319983