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In the last few decades, real GDP growth and investment in advanced countries have declined in tandem. This slowdown was not the result of weak demand (there has been no shift along the Okun curve), but of a decline in potential output growth (which has shifted the Okun curve to the left). We...
Persistent link: https://www.econbiz.de/10012859859
contribution of total factor productivity (TFP) to growth is largely responsible for the slowdown in trend growth in many SMICs …, which highlights the need for policy actions to reinvigorate productivity growth. This paper explores the question of what … kind of structural policies could boost productivity growth in SMICs and the political economy factors that may be …
Persistent link: https://www.econbiz.de/10013028660
as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital … (CPMG) methodology of Pesaran et al. (1999) for estimation. The latter takes account of cross-country heterogeneity and …
Persistent link: https://www.econbiz.de/10013111408
, to economically and statistically significant declines in domestic output and productivity. Tariff increases also result …. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies …
Persistent link: https://www.econbiz.de/10012892898
This paper analyzes the effects of selected structural reforms on output and employment in the short and medium term. It uses a comprehensive cross-country firm-level dataset covering both advanced and emerging market economies over the period 2003-2014. In line with previous studies, it finds...
Persistent link: https://www.econbiz.de/10012918569
The combination of stagnant growth and high levels of income inequality renewed the debate about whether a more even distribution of income can spur economic activity. This paper tests for cross-country convergence in income inequality and estimates its impact on economic growth with a...
Persistent link: https://www.econbiz.de/10012962147
effect of gender inequality on industry growth in value-added and labor productivity. Our findings show that gender …
Persistent link: https://www.econbiz.de/10012827585
Using panel data for a large number of countries, we find that economic contractions are not followed by offsetting fast recoveries. Trend output lost is not regained, on average. Wars, crises, and other negative shocks lead to absolute divergence and lower long-run growth, whereas we find...
Persistent link: https://www.econbiz.de/10014063095
This paper presents a novel framework to estimate the elasticity between nighttime lights and quarterly economic activity. The relationship is identified by accounting for varying degrees of measurement errors in nighttime light data across countries. The estimated elasticity is 1.55 for...
Persistent link: https://www.econbiz.de/10014082217
This paper examines the impact of highway expansion on aggregate productivity growth andsectoral reallocation between … indirect impact of trade costs on city productivity. I then construct an instrumentalvariable to examine the causal impact of … highways on economic outcomes and the underlyingchannels. The results suggest that highways promoted aggregate productivity …
Persistent link: https://www.econbiz.de/10012895102