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How Do Member Countries Receive IMF Policy Advice : Results from a State-of-the-Art Sentiment Index

Fayad, Ghada; Huang, Chengyu; Shibuya, Yoko; Zhao, Peng - 2020

This paper applies state-of-the-art deep learning techniques to develop the first sentiment index measuring member countries' reception of IMF policy advice at the time of Article IV Consultations. This paper finds that while authorities of member countries largely agree with Fund advice, there...

Persistent link: https://www.econbiz.de/10012840599

The Algebraic Galaxy of Simple Macroeconomic Models : A Hitchhiker's Guide

Tanner, Evan - 2017

Simple macroeconomic frameworks like the IS/LM have survived because they help us conceptualize complex problems while also providing ‘back of the envelope' estimates of macroeconomic outcomes. Herein, a bare-bones New Keynesian extension of the IS/LM model yields solutions for core macro...

Persistent link: https://www.econbiz.de/10012950427

Japan Out of the Lost Decade : Divine Wind or Firms' Effort?

Ogawa, Kazuo - 2012

A surge of exports in the 2000s helped Japan exit the severe decade-long stagnation known as the lost decade. Using panel data of Japanese exporting firms, we examine the sources of the export surge during this period. One view argues that the so-called "divine wind" or exogenous external demand...

Persistent link: https://www.econbiz.de/10013098633

Innovation, Deregulation, and the Life Cycle of a Financial Service Industry

Hayashi, Fumiko - 2015

This paper examines innovation, deregulation, and firm dynamics over the life cycle of the U.S. ATM and debit card industry. In doing so, we construct a dynamic equilibrium model to study how a major product innovation (introducing the new debit card function) interacted with banking...

Persistent link: https://www.econbiz.de/10013015590

Automation, Skills and the Future of Work : What do Workers Think?

Mulas-Granados, Carlos - 2020

We exploit a survey data set that contains information on how 11,000 workers across advanced and emerging market economies perceive the main forces shaping the future of work. In general, workers feel more positive than negative about automation, especially in emerging markets. We find that...

Persistent link: https://www.econbiz.de/10012843306

R&D, Innovation, and Economic Growth : An Empirical Analysis

Ulku, Hulya - 2006

This paper investigates the main postulations of the Ramp;D based growth models that innovation is created in the Ramp;D sectors and it enables sustainable economic growth, provided that there are constant returns to innovation in terms of Ramp;D. The analysis employs various panel data...

Persistent link: https://www.econbiz.de/10012783098

The Impact of Workforce Aging on European Productivity

Aiyar, Shekhar S. - 2017

The age-distribution of Europe's workforce has shifted towards older workers over the past few decades, a process expected to accelerate in the years ahead. This paper studies the effect of the aging of the workforce on labor productivity, identifies the main transmission channels, and examines...

Persistent link: https://www.econbiz.de/10012962166

Two-Sided Market, R&D and Payments System Evolution

Li, Bin (Grace) - 2019

It takes many years for more efficient electronic payments to be widely used, and the fees thatmerchants (consumers) pay for using those services are increasing (decreasing) over time. Weaddress these puzzles by studying payments system evolution with a dynamic model in a twosidedmarket setting....

Persistent link: https://www.econbiz.de/10012888773

International Knowledge Spillovers

Eugster, Johannes L. - 2019

How important is foreign knowledge for domestic innovation outcomes? How is this relation shaped by globalization and … barriers to the domestic diffusion of foreign knowledge have fallen significantly for emerging economies. For all countries …, and especially for emerging economies, inflows of foreign knowledge have a growing and quantitatively important impact on …

Persistent link: https://www.econbiz.de/10012892917

Productivity Drag from Small and Medium-Sized Enterprises in Japan

Colacelli, Mariana - 2019

Productivity growth in Japan, as in most advanced economies, has moderated. This paper finds supportive evidence for the important role of small and medium-sized enterprises (SMEs) in explaining Japan's modest productivity growth. Results show a substantial dispersion in firm-level productivity...

Persistent link: https://www.econbiz.de/10012865835