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The role of capital accumulation as a driver of the labor income share requires capital and labor to be substitutes, which appears paradoxical in a world predominantly characterized by complementarity between capital and labor. This paper argues that the composition of skills in the labor force...
Persistent link: https://www.econbiz.de/10012870261
of the Chinese economy and substantial increases in foreign and domestic investments, has greatly stimulated internal …
Persistent link: https://www.econbiz.de/10013316917
We construct key household and individual economic variables using a panel micro data set from the Russia Longitudinal …
Persistent link: https://www.econbiz.de/10013158667
When mobility between locations is frictional, a person's economic well-being is partially determined by her place of birth. Using a life cycle model of mobility, we find that search frictions are the main impairment to the mobility of young people in Spain, and these frictions are particularly...
Persistent link: https://www.econbiz.de/10014254889
advanced economies. We examine the extent of this convergence in the Czech Republic and Russia, economies that represent … privatization, competition and foreign investment. We also test hypotheses positing that only firms near the efficiency frontier …
Persistent link: https://www.econbiz.de/10013318782
The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this … paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under … capital stock and, explicitly, of stochastic changes on the interest rate-investment hysteresis. Starting with hysteresis …
Persistent link: https://www.econbiz.de/10012863765
level, raises the amount of investment per worker in the economy compared to a one-tier bargaining scheme, in which earnings … investment per worker and the presence of a two-tier bargaining agreement that we find in a representative sample of Italian …
Persistent link: https://www.econbiz.de/10012906465
financial markets work, and stress the vital need of preventing financial devices that result in productive investment crowding-out …
Persistent link: https://www.econbiz.de/10013084673
Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour costs or labour-market institutions. This paper explores an additional source of differentials in competitiveness: land and building prices. European countries, especially France,...
Persistent link: https://www.econbiz.de/10013086230
of market sector spillovers from intangible investment and from public R&D. We find (a) no evidence of spillover effects … from intangible investment at the market sector level, including from R&D, (b) strong evidence of market sector spillovers …
Persistent link: https://www.econbiz.de/10013095089