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Properties of dynamic stochastic general equilibrium models can be revealed by either using numerical solutions or qualitative analysis. Very precise and intuition-building results are obtained by working with models which provide closed-form solutions. Closed-form solutions are known for a...
Persistent link: https://www.econbiz.de/10013155278
fixed offshoring costs. In the skill-abundant country, high-productivity firms offshore a larger range of labor …-intensive inputs to the labor-abundant countries than low-productivity firms. Differently from the traditional versions of factor …-proportions trade theory, Heckscher-Ohlin forces operate at the within-industry level, leading to endogenous variation in skill …
Persistent link: https://www.econbiz.de/10013012534
A growing recent literature relies on a precautionary pricing motive embedded in representative agent DSGE models with sticky prices and wages to generate negative output effects of uncertainty shocks. We assess whether this theoretical model channel is consistent with the data. Building a New...
Persistent link: https://www.econbiz.de/10012962916
This paper identifies the mechanism through which financial crises exert long-term negative effects on output. Theory … suggests that a shortfall in productivity-enhancing investments temporarily slows technological progress, creating a gap … the Global Financial Crisis, I show that tight credit reduced investments in productivity-enhancement, and significantly …
Persistent link: https://www.econbiz.de/10012964611
low- and high-productivity firms. By introducing a declining time profile of benefits, the government can affect the … equilibrium wage profile in a manner that enhances the sorting of workers across low- and high-productivity firms. We demonstrate … that optimal government policy depends on the dispersion and skewness of the firms' productivity distribution …
Persistent link: https://www.econbiz.de/10012988234
We determine workforce composition and wages in firms in the presence of productivity spill-overs between co …
Persistent link: https://www.econbiz.de/10013031991
While the output of a team is evident, the productivity of each team member is typically not readily identifiable. In … this paper we consider the problem of measuring the productivity of team members. We propose a new concept of coworker … productivity, which we refer to as eigenvalue productivity (EVP). We demonstrate the existence and uniqueness of our concept and …
Persistent link: https://www.econbiz.de/10012944882
productivity depends on their age through the build-up of labour market experience and the depreciation of human capital. We make … wisdom following an increase in longevity, depending on the corresponding change in the age-productivity profile …
Persistent link: https://www.econbiz.de/10013021702
output and average productivity, with stronger positive productivity effects for newly imported intermediate inputs. However …
Persistent link: https://www.econbiz.de/10013001169
This paper examines the link between a firm's ownership of productive assets and its choice of foreign-market entry strategy. We find that, controlling for industry - and country-specific characteristics, the most productive firms (i.e., those owning the most assets) will enter through...
Persistent link: https://www.econbiz.de/10012780461