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Product Market Deregulation and Growth : New Country-Industry-Level Evidence
Bouis, Romain - 2016
The paper investigates the economic effects of major product market reforms in some of the historically most protected non-manufacturing industries. It relies on a unique mapping between new annual data on reform shocks and sector-level outcomes for five network industries (electricity and gas,...
Persistent link: https://www.econbiz.de/10012977853
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Local Governments' Fiscal Balance, Privatization, and Banking Sector Reform in Transition Countries
Crivelli, Ernesto - 2012
liberalization, privatization, and stabilization reforms. Theory predicts that decentralization may aggravate fiscal imbalances … over 19 years to address a central question of fact: Did privatization help to promote local governments' fiscal discipline …? The answer is clearly ‘no' for privatization considered in isolation. However, privatization and subnational fiscal …
Persistent link: https://www.econbiz.de/10013102260
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India's State-Owned Enterprises
Agarwal, Ruchir; Arbatli, Elif C.; Fisher, Lesley; Han, … - 2022
India’s recently announced privatization strategy can facilitate a change in the composition of the public sector … description of the SOE sector in India, consider different criteria which can inform the scope and rationale for privatization. It … also highlights takeaways from international experience with privatization, highlights the importance of improved …
Persistent link: https://www.econbiz.de/10013492000
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What Happens If Central Banks Misdiagnose a Slowdown in Potential Output
Bakker, Bas Berend - 2019
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
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Evolution of the Relative Price of Goods and Services in a Neoclassical Model of Capital Accumulation
Klyuev, Vladimir - 2006
This paper provides an explanation for the secular increase in the price of services relative to that of manufactured goods that relies on capital accumulation rather than on an exogenous total factor productivity growth differential. The key assumptions of the two-sector, intertemporal...
Persistent link: https://www.econbiz.de/10012783078
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Sectoral Booms and Misallocation of Managerial Talent : Evidence from the Chinese Real Estate Boom
Shi, Yu - 2018
This paper identifies a new mechanism leading to inefficiency in capital reallocation at theextensive margin when an economy experiences a sectoral boom. I argue that imperfectionsin the financial market and capital barriers to entry in the booming sector create amisallocation of managerial...
Persistent link: https://www.econbiz.de/10012907950
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Tuning in RBC Growth Spectra
Benk, Szilard - 2017
For US postwar data, the paper explains central consumption, labor, investment and output correlations and volatilities along with output growth persistence by including a human capital investment sector and a variable physical capital utilization rate. Strong internal "amplication" results from...
Persistent link: https://www.econbiz.de/10012966555
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Resource Misallocation Among Listed Firms in China : The Evolving Role of State-Owned Enterprises
Jurzik, Emilia; Ruane, Cian - 2021
We document that publicly listed Chinese state-owned enterprises (SOEs) are less productive and profitable than publicly listed firms in which the state has no ownership stake. In particular, Chinese listed SOEs are more capital intensive and have a lower average product of capital than...
Persistent link: https://www.econbiz.de/10013226435
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On the First-Round Effects of International Food Price Shocks : The Role of the Asset Market Structure
Portillo, Rafael - 2015
We develop a tractable small open-economy model to study the first-round effects of international food price shocks in developing countries. We define first-round effects as changes in headline inflation that, holding core inflation constant, help implement relative price adjustments. The model...
Persistent link: https://www.econbiz.de/10013025650
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The Macroeconomic Effects of Labor and Product Market Reforms in Morocco
Sarr, Babacar - 2019
This paper studies the macroeconomic effects and sequencing of (LMRs) and product (PMRs) market reforms in Morocco. It finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp) of GDP growth and reduce unemployment by about 2.2 pp after five years. If...
Persistent link: https://www.econbiz.de/10012858957