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nearly one third of euro area labour productivity growth. The results point to a significant decline in the contribution of … total factor productivity to euro area growth …
Persistent link: https://www.econbiz.de/10013318111
This paper shows that initial cross-country institutional differences can explain to a substantial extent the relative GDP performance of European countries since 1995, after controlling for the initial level of GDP per capita and government debt. It shows that improving the quality of...
Persistent link: https://www.econbiz.de/10012982916
This paper analyses the impact of changes in environmental regulations on productivity growth at country- and firm …, according to which firms’ productivity can benefit from more stringent environmental policies. By using panel local projections … tightening affects high-polluters’ productivity negatively and stronger than their less-polluting peers. However, among high …
Persistent link: https://www.econbiz.de/10014356434
This paper provides a comprehensive analysis of the functional form of the euro area Phillips curve over the past three decades. In particular, compared to previous literature we analyse the stability of the relationship in detail, especially as regards the possibility of a time-varying mean of...
Persistent link: https://www.econbiz.de/10012776127
This paper provides new evidence on the effects of government spending shocks and the fiscal transmission mechanism in the euro area for the period 1980-2008. Our contribution is two-fold. First, we investigate changes in the macroeconomic impact of government spending shocks using time-varying...
Persistent link: https://www.econbiz.de/10013316199
This paper investigates the impact of exchange rate shocks on sectoral activity and prices in the euro area. Using a VAR framework it provides evidence on the magnitude and speed of the impact of exchange rate shocks on activity in all main euro area sectors and on activity and producer prices...
Persistent link: https://www.econbiz.de/10013316897
productivity convergence among euro area countries. While no convergence can be found on the aggregate level, selected service … sectors and manufacturing sub-industries indicate evidence of convergence. In a search for factors influencing productivity …
Persistent link: https://www.econbiz.de/10013107393
This paper analyses the endogeneity of euro area total factor productivity and its role in business cycle amplification … by estimating a medium-scale DSGE model with endogenous productivity mechanism on euro area data. In this framework …, total factor productivity evolves endogenously as a consequence of costly investment in R&D and adoption of new technologies …
Persistent link: https://www.econbiz.de/10012834776
and productivity change; when expenditure on consumer durables is recorded as capital investment. The capitalization of … consumer durables impacts both the levels and growth rates of the capital stock, productivity and GDP. Our growth accounting … productivity growth in 1995-2004. ICT's impacts were larger, i.e., one-fifth of GVA growth and one-sixth of labour productivity …
Persistent link: https://www.econbiz.de/10012770430
Productivity performance in European countries has been a policy concern for some time. This paper shows that … productivity can be enhanced by product market policies which, by increasing competition and efficiency, facilitate higher rates of … churning, in turn, appears to be positively related to higher total factor productivity at the sector level by facilitating the …
Persistent link: https://www.econbiz.de/10012858445