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International R&D Spillovers: Technology Transfer vs. R&D Synergies

Dieppe, Alistair; Mutl, Jan - 2013

for a dynamic interaction in explaining total factor productivity (TFP). Relative to the existing literature, our model … affect TFP in own sector, the model implies that after accounting for both R&D and TFP spillovers, there is a total positive … impact of R&D on TFP in the same sector while the overall impact of R&D on TFP in other sectors and countries is negative …

Persistent link: https://www.econbiz.de/10011605549

The role of factor substitution and technical progress in China's great expansion

Manu, Ana-Simona; McAdam, Peter; Willman, Alpo - 2018

We offer a macroeconomic assessment of China's Reform Period, highlighting several neglected channels underlining its great expansion. Estimating the supply side of the post-Reform economy reveals the relatively high (above unity) value of the elasticity of factor substitution and the...

Persistent link: https://www.econbiz.de/10011916884

Product Market Structure and Monetary Policy : Evidence from the Euro Area

Ferrando, Annalisa; McAdam, Peter; Petroulakis, Filippos; … - 2022

Monetary policy aims at affecting corporate borrowing by influencing the marginal costs of firms, but its potency can be conditioned by the degree of market competition. We first identify conditions under which changes in marginal costs may have different effects on credit constraints and output...

Persistent link: https://www.econbiz.de/10013308710

The exchange rate, asymmetric shocks and asymmetric distributions

Demian, Calin-Vlad; di Mauro, Filippo - 2015

The elasticity of exports to exchange rate fluctuations has been the subject of a large literature without a clear consensus emerging. Using a novel sector level dataset based on firm level information, we show that exchange rate elasticities double in size when the country and sector specific...

Persistent link: https://www.econbiz.de/10011605846

Can Non-Linear Real Shocks Explain the Persistence of PPP Exchange Rate Disequilibria?

Peltonen, Tuomas A. - 2011

A core stylized fact of the empirical exchange rate literature is that half-life deviations of equilibrium real exchange rates from levels implied by Purchasing Power Parity (PPP) are very persistent. Empirical efforts to explain this persistence typically proceed along two distinct paths,...

Persistent link: https://www.econbiz.de/10013134541

A new approach to measuring competition in the loan markets of the euro area

van Leuvensteijn, Michiel; Bikker, Jacob A.; van … - 2007

This paper is the first that applies a new measure of competition, the Boone indicator, to the banking industry. This approach is able to measure competition of bank market segments, such as the loan market, whereas many well-known measures of competition can consider the entire banking market...

Persistent link: https://www.econbiz.de/10011604814

Evaluating microfoundations for aggregate price regidities: evidence from matched firm-level data on product prices and unit labor cost

Carlsson, Mikael; Nordström Skans, Oskar - 2009

Using data on product-level prices matched to the producing �rm�s unit labor cost, we reject the hypothesis of a full and immediate pass-through of marginal cost. Since we focus on idiosyncratic variation, this does not �t the predictions of the Ma´ckowiak and Wiederholt (2009) version of...

Persistent link: https://www.econbiz.de/10011605129

Retail market structure and consumer prices in the euro area

Ciapanna, Emanuela; Rondinelli, Concetta - 2014

We investigate the empirical relationship between product market competition and prices in the retail grocery sector in the euro area. The study uses micro-data from ACNielsen on chain stores' census characteristics and price levels for a broad variety of products. We construct...

Persistent link: https://www.econbiz.de/10011605789

Product market structure and monetary policy: Evidence from the euro area

Ferrando, Annalisa; McAdam, Peter; Petroulakis, Filippos; … - 2021

Persistent link: https://www.econbiz.de/10012819046

A New Approach to Measuring Competition in the Loan Markets of the Euro Area

van Leuvensteijn, Michiel; Bikker, Jacob Antoon; van … - 2021

This paper is the first that applies a new measure of competition, the Boone indicator, to the banking industry. This approach is able to measure competition of bank market segments, such as the loan market, whereas many well - known measures of competition can consider the entire banking market...

Persistent link: https://www.econbiz.de/10013317045