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Industry-specific knowledge spurs productivity : an application of panel cointegration

Zloczysti, Petra - 2011

linkage between channels of international knowledge spillovers and total factor productivity. We distinguish between domestic … contribution of technology transfer to industrial productivity. To account for technological distance, we weight foreign knowledge … mainly drives productivity in the respective sector. -- Knowledge Spillover ; Total Factor Productivity ; Manufacturing …

Persistent link: https://www.econbiz.de/10009515007

Unemployment and productivity growth : an empirical analysis within the augmented Solow model

Bräuninger, Michael; Pannenberg, Markus - 2016

the growth rate and the level of productivity. The long-run level of productivity is reduced if higher unemployment leads …-run productivity growth. Using panel data from 13 OECD countries from 1960 to 1990, we find evidence that an increase in unemployment … scales down the long-run level of productivity. …

Persistent link: https://www.econbiz.de/10011440805

Long memory and volatility dynamics in the US dollar exchange rate

Caporale, Guglielmo Maria; Gil-Alaña, Luis A. - 2010

This paper focuses on nominal exchange rates, specifically the US dollar rate vis-à-vis the Euro and the Japanese Yen at a daily frequency. We model both absolute values of returns and squared returns using long-memory techniques, being particularly interested in volatility modelling and...

Persistent link: https://www.econbiz.de/10003931070

Multi-factor Gegenbauer processes and European inflation rates

Caporale, Guglielmo Maria; Gil-Alaña, Luis A. - 2009

In this paper we specify a multi-factor long-memory process that enables us to estimate the fractional differencing parameters at each frequency separately, and adopt this framework to model quarterly prices in three European countries (France, Italy and the UK). The empirical results suggest...

Persistent link: https://www.econbiz.de/10003832660

Optimal fiscal policy in an economy facing socio-political instability

Ghate, Chetan; Le, Quan Vu; Zak, Paul J. - 2002

We present a model of optimal government policy when policy choices may exacerbate socio-political instability (SPI). We show that optimal policy that takes into account SPI transforms a standard concave growth model into a model with both a poverty trap and endogenous growth. The resulting...

Persistent link: https://www.econbiz.de/10011437000

Endogenous distribution, politics, and growth

Das, Satya P.; Ghate, Chetan - 2002

This paper generalizes the analysis of distributive conflict, politics, and growth developed by by Alesina-Rodrik (1994). We construct a heterogenous-agent framework in which both growth and the distribution of wealth are endogenous. Due to adjustments in the distribution of wealth, the...

Persistent link: https://www.econbiz.de/10011437002

The politics of endogenous growth

Ghate, Chetan; Zak, Paul J. - 2003

Is it politically feasible for governments to engineer endogenous growth? This paper illustrates two reasonable political decision mechanisms by which fiscal policy generates endogenous growth with a single accumulable factor, under a constant returns to scale production technology, and without...

Persistent link: https://www.econbiz.de/10011437196

Long term growth perspectives in Japan and the euro area

Dreger, Christian - 2017

Euro area countries and Japan are confronted with similar challenges. Potential output is on a falling trend in the euro area, and the decrease started well before the financial crisis. In Japan, low output growth is a striking feature since many years, despite the unconventional monetary policy...

Persistent link: https://www.econbiz.de/10011639038

Long memory in US real output per capita

Caporale, Guglielmo Maria; Gil-Alaña, Luis A. - 2009

This paper analyses the long memory properties of quarterly real output per capita in the US (1948Q1 ¿ 2008Q3) using non-parametric, semi-parametric and parametric techniques. The results vary substantially depending on the methodology employed. Evidence of mean reversion is obtained in a...

Persistent link: https://www.econbiz.de/10003844251

What determines the elasticity of substitution between capital and labor? : a literature review

Knoblach, Michael; Stöckl, Fabian - 2019

This paper provides the first comprehensive review of the empirical and theoretical literature on the determinants of the elasticity of substitution between capital and labor. Our focus is on the two-input constant elasticity of substitution (CES) production function. By example of the U.S., we...

Persistent link: https://www.econbiz.de/10011963660