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Accounting for China's growth
Brandt, Loren; Zhu, Xiaodong - 2010
role of rising rates of investment. Because labor reallocation across sectors, TFP growth at the sector level and … investment are all inter-related, simple growth decompositions that are often used in the literature are not appropriate for … continues to absorb more than half of all fixed investment. If capital had been allocated efficiently, China could have achieved …
Persistent link: https://www.econbiz.de/10003940472
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The effect of employment protection legislation and financial market imperfections on investment : evidence from a firm-level panel of EU countries
Cingano, Federico; Leonardi, Marco; Messina, Julián; … - 2009
This paper analyzes the joint effect of EPL and financial market imperfections on investment, capital … stronger in firms with lower levels of internal resources. We find that, on average, EPL reduces investment per worker, capital … assess the average effect of EPL on firms' policies. Then, exploiting firm-level information we study if the effect of EPL is …
Persistent link: https://www.econbiz.de/10003832294
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Equilibrium unemployment and investment under product and labour market imperfections
Kauppi, Heikki (contributor); Koskela, Erkki (contributor);  … - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001948646
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Unemployment and vacancy dynamics with imperfect financial markets
Carrillo-Tudela, Carlos; Graber, Michael; Wälde, Klaus - 2015
This paper proposes a simple general equilibrium model with labour market frictions and an imperfect financial market. The aim of the paper is to analyse the transitional dynamics of unemployment and vacancies when financial constraints are in place. We model the financial sector as a...
Persistent link: https://www.econbiz.de/10011388322
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Life cycle time allocation and saving in an imperfect capital market
Apps, Patricia (contributor); Rees, Ray (contributor) - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001937662
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A steady-state model of a non-walrasian economy with three imperfect markets
Wasmer, Etienne - 2011
Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by introducing search frictions on several markets: in a model of credit and labor market imperfections as in Wasmer and Weil (2004), I further introduce search on the goods market....
Persistent link: https://www.econbiz.de/10009308020
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The cyclical volatility of labor markets under frictional financial markets
Petrosky-Nadeau, Nicolas; Wasmer, Etienne - 2010
Financial frictions are known to raise the volatility of economies to shocks (e.g. Bernanke and Gertler 1989). We follow this line of research to the labor literature concerned by the volatility of labor market outcomes to productivity shocks initiated by Shimer (2005): in an economy with search...
Persistent link: https://www.econbiz.de/10008810695
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Market distortions and local indeterminacy : a general approach
Lloyd-Braga, Teresa; Modesto, Leonor; Seegmuller, Thomas - 2011
We provide a methodology to study the role of market distortions on the emergence of indeterminacy and bifurcations. Most of the specific market imperfections considered in the related literature are particular cases of our framework. Comparing them we obtain several equivalence results in terms...
Persistent link: https://www.econbiz.de/10009235089
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Occupational choice and the spirit of capitalism
Doepke, Matthias (contributor);  … - 2007
The British Industrial Revolution triggered a reversal in the social order whereby the landed elite was replaced by industrial capitalists rising from the middle classes as the economically dominant group. Many observers have linked this transformation to the contrast in values between a...
Persistent link: https://www.econbiz.de/10003586551
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Short-time work and precautionary savings
Dengler, Thomas; Gehrke, Britta - 2021
In the Covid-19 crisis, most OECD countries use short-time work schemes (subsidized working time reductions) to preserve employment relationships. This paper studies whether short-time work can save jobs through stabilizing aggregate demand in recessions. We build a New Keynesian model with...
Persistent link: https://www.econbiz.de/10012517675