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We reassess exchange rate prediction using a wider set of models that have been proposed in the last decade. The performance of these models is compared against two reference specifications-purchasing power parity and the sticky-price monetary model. The models are estimated in first-difference...
Persistent link: https://www.econbiz.de/10005263978
models featuring Epstein-Zin preferences and affine dynamics for productivity growth and volatility. The method relies on log …
Persistent link: https://www.econbiz.de/10008727787
measures differences in labor productivity (the Ricardian measure), and the other differences in total factor productivity (the …
Persistent link: https://www.econbiz.de/10005825862
I study the implications of productivity shocks in a model where agents observe the aggregate level of productivity but …
Persistent link: https://www.econbiz.de/10005826568
This paper provides empirical evidence on the response of labor productivity to the arrival of new inventions. The … analysis shows that labor productivity may temporarily fall below trend after technological progress. However, the effects on … productivity differ between the pre- and post-World War II periods. The pre-war period shows evidence of a productivity slowdown as …
Persistent link: https://www.econbiz.de/10005768749
characteristics. The results suggest that institutional differences are important determinants of total factor productivity and that …
Persistent link: https://www.econbiz.de/10005768791
This paper estimates the effects of offshoring on productivity in U.S. manufacturing industries between 1992 and 2000 … has a significant positive effect on productivity in the US, accounting for around 11 percent of productivity growth … during this period. Offshoring material inputs also has a positive effect on productivity, but the magnitude is smaller …
Persistent link: https://www.econbiz.de/10005768861
total factor productivity premium of 11-28 percent. The data do not allow testing of whether these premiums are caused by … data, we cannot disentangle its effect on productivity from those of more traditionally recognized channels of …
Persistent link: https://www.econbiz.de/10005768934
This paper estimates the effects of trade liberalization on plant productivity. In contrast to previous studies, we … distinguish between productivity gains arising from lower tariffs on final goods relative to lower tariffs on intermediate inputs …. Lower output tariffs can produce productivity gains by inducing tougher import competition whereas cheaper imported inputs …
Persistent link: https://www.econbiz.de/10005769329
This paper presents empirical evidence on the impact of competition on firm productivity. Using firm-level observations … competition and our measures of productivity. We also find that countries that implemented product-market reforms had a more … pronounced increase in competition, and correspondingly, in productivity: the contribution to productivity growth due to …
Persistent link: https://www.econbiz.de/10008470387