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Medium Run Redux : Technical Change, Factor Shares and Frictions in the Euro Area
McAdam, Peter - 2008
We develop a framework for analyzing quot;medium-runquot; departures from balanced growth, and apply it to the economies of continental Europe. A time-varying factor-augmenting production function (mimicking quot;directedquot; technical change) with a below-unitary substitution elasticity...
Persistent link: https://www.econbiz.de/10012771612
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New Technologies and Jobs in Europe
Albanesi, Stefania; Dias da Silva, Antonio; Jimeno, Juan F. - 2023
We examine the link between labour market developments and new technologies such as artificial intelligence (AI) and software in 16 European countries over the period 2011-2019. Using data for occupations at the 3-digit level in Europe, we find that on average employment shares have increased in...
Persistent link: https://www.econbiz.de/10014346583
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Does Private Equity Investment Spur Innovation? Evidence from Europe
Popov, Alexander A. - 2012
We provide the first cross-country evidence of the effect of investment by private equity firms on innovation, focusing … funds and insurance companies across countries and over time. We also control for the standard determinants of innovation … aggregate (private equity plus R&D) industrial spending, PE accounts for as much as 12% of industrial innovation. We also …
Persistent link: https://www.econbiz.de/10013117009
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On the Real Effects of Private Equity Investment : Evidence from New Business Creation
Popov, Alexander A. - 2010
Using a comprehensive database of European firms, we study how private equity affects the rate of firm entry. We find that private equity investment benefits new business incorporation, especially in industries with naturally higher entry rates and R&D intensity. A two standard deviation...
Persistent link: https://www.econbiz.de/10013152176
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Determinants of Firms’ Efficiency : Do Innovations and Finance Constraints Matter? The Case of European Smes
Bonanno, Graziella - 2020
This paper aims at investigating the relationship between firms' profit efficiency, access to finance and innovation … efficiency in order to increase profitability. Among firms that have embarked in product innovation, those in the industry and … help to better understand the link between innovation, financial constraints and efficiency, which goes beyond the idea …
Persistent link: https://www.econbiz.de/10012831402
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Financial Reforms and Innovation : A Micro-Macro Perspective
Boikos, Spyridon; Bournakis, Ioannis; Christopoulos, … - 2021
suggests that whilst micro reforms boost innovation, macro reforms may appear negative. We test and find empirical support for …
Persistent link: https://www.econbiz.de/10013229692
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International trade, technological shocks and spillovers in the labour market: A GVAR analysis of the US manufacturing sector
Hiebert, Paul; Vansteenkiste, Isabel - 2007
We empirically analyse the response of US manufacturing labour market variables to various shocks, notably to trade openness and technology. The econometric approach involves an application of the recently developed global VAR (GVAR) methodology of D¶ees, DiMauro, Pesaran, and Smith (2005) to...
Persistent link: https://www.econbiz.de/10011604777
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The Normalized CES Production Function : Theory and Empirics
Klump, Rainer - 2011
The elasticity of substitution between capital and labor and, in turn, the direction of technical change are critical parameters in many fields of economics. Until recently, though, the application of production functions with non-unitary substitution elasticities (i.e., non Cobb Douglas) was...
Persistent link: https://www.econbiz.de/10013130168
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Shocking Stuff : Technology, Hours, and Factor Substitution
Cantore, Cristiano - 2010
The reaction of hours worked to technology shocks represents a key controversy between RBC and New Keynesian explanations of the business cycle. It sparked a large empirical literature with contrasting results. We demonstrate that, with a more general and data coherent supply and production...
Persistent link: https://www.econbiz.de/10013135284
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International Trade, Technological Shocks and Spillovers in the Labour Market : A GVAR Analysis of the US Manufacturing Sector
Vansteenkiste, Isabel - 2007
We empirically analyse the response of US manufacturing labour market variables to various shocks, notably to trade openness and technology. The econometric approach involves an application of the recently developed global VAR (GVAR) methodology of Dees, DiMauro, Pesaran, and Smith (2005) to 12...
Persistent link: https://www.econbiz.de/10012777698