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To understand better Canada''s smooth reallocation of labor in response to the recent commodity price boom, but … seemingly poor productivity performance, this paper examines job and firm dynamics in Canada relative to the United States …. Overall, it finds that while Canada''s labor market efficiency seems comparable to that of the United States, product market …
Persistent link: https://www.econbiz.de/10014401398
educational attainment would raise Canada's overall labor productivity growth by 0.2 to 0.3 percentage point a year. This suggests …
Persistent link: https://www.econbiz.de/10011705314
This study investigates the impact of the current financial crisis on Canada''s potential GDP growth. Using a simple …-term unemployment rate (which would raise equilibrium unemployment rates). However, over the medium term, we expect Canada''s potential …
Persistent link: https://www.econbiz.de/10014404321
The existing literature suggests a number of alternative methods to test for the presence of contagion during financial market crises. This paper reviews those methods and shows how they are related in a unified framework. A number of extensions are also suggested that allow for multivariate...
Persistent link: https://www.econbiz.de/10014401432
Rather than taking on more risk, US insurers hit hard by the crisis pulled back from risk taking, relative to insurers not hit as hard by the crisis. Capital requirements alone do not explain this risk reduction: insurers hit hard reduced risk within assets with identical regulatory treatment....
Persistent link: https://www.econbiz.de/10011705355
This paper focuses on asset allocation decisions of life insurance companies in emerging markets. Mature market insurers allocate only a small fraction of their assets to emerging markets because of regulatory constraints, rating pressures, and currency risk. However, global insurers invest...
Persistent link: https://www.econbiz.de/10014402057
Insurance enterprises provide services, called insurance services, to policyholders. The values of such services are seldom, if ever, directly apparent; rather these values are implicitly entwined within the payment of premiums. This paper discusses the treatment of insurance services, and...
Persistent link: https://www.econbiz.de/10014398144
Increasing use of life insurance instruments and company-sponsored funds in France suggests that French households may be inclined to a greater reliance on financial savings as a source of retirement income. This paper examines the challenges imposed by an aging population on the pay-as-you-go...
Persistent link: https://www.econbiz.de/10014398186
We show that an increase in aggregate uncertainty-measured by stock market volatility-reduces productivity growth more in industries that depend heavily on external finance. This effect is larger during recessions, when financing constraints are more likely to be binding, than during expansions....
Persistent link: https://www.econbiz.de/10011715311
This paper examines the effects of improvements in infrastrucutre on sectoral growth and firm-level investment, focusing on six Latin American countries. Exploiting the heterogeneity in the quality of infrastructure across countries and the intrinsic variation in the dependence of sectors on...
Persistent link: https://www.econbiz.de/10011716595