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The Importance of Education and Skill Development for Economic Growth in the Information Era
Hulten, Charles R. - 2017
in the U.S. economy accords a relatively small role to education. This result seems at variance with the revolution in …
Persistent link: https://www.econbiz.de/10012940803
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Measuring Aggregate Productivity Growth Using Plant-Level Data
Petrin, Amil; Levinsohn, James A. - 2021
our measure into technical efficiency and reallocation components. This requires us to confront the "non …
Persistent link: https://www.econbiz.de/10013222069
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Production Chains
Levine, David K. - 2010
More advanced technologies demand higher degrees of specialization - and longer chains of production connecting raw inputs to final outputs. Longer production chains are subject to a "weakest link" effect: they are more fragile and more prone to failure. Optimal chain length is determined by the...
Persistent link: https://www.econbiz.de/10013135410
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Stochastic Growth in the United States and Euro Area
Ireland, Peter N. - 2011
point to large and persistent swings in productivity, both favorable and adverse, originating in the US but not transmitted …-specific technological change enjoyed in the US during the 1990s, it also escaped the stagnation in neutral technological progress that … plagued the US in the 1970s …
Persistent link: https://www.econbiz.de/10013131508
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The Cyclical Behavior of Equilibrium Unemployment and Vacancies in the Us and Europe
Justiniano, Alejandro - 2012
-Saxon countries (the US and the UK), two Continental European countries (France and Germany) and two Scandinavian countries (Norway … probabilities observed in US, with mixed success in Europe. In contrast, matching shocks and job destruction shocks play a larger … role in most European countries relative to the US …
Persistent link: https://www.econbiz.de/10013114011
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Animal Spirits, Financial Crises and Persistent Unemployment
Farmer, Roger E. A. - 2011
This paper develops a rational expectations model with multiple equilibrium unemployment rates where the price of capital may be unbounded above. I argue that this property is an important feature of any rational-agent explanation of a financial crisis, since for the expansion phase of the...
Persistent link: https://www.econbiz.de/10013123693
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Does European Unemployment Prop Up American Wages?
Davis, Donald R. - 2011
We consider trade between a flexible wage America and a rigid real wage Europe. In a benchmark case, a move from autarky to free trade doubles the European unemployment rate, while it raises the American unskilled wage to the high European level. Entry of the unskilled South to world markets...
Persistent link: https://www.econbiz.de/10013125263
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Labor Market, Financial Crises and Inflation : Jobless and Wageless Recoveries
Calvo, Guillermo A. - 2012
This paper uses a sample of 116 recession episodes in developed and emerging market economies to compare the labor-market recovery during financial crises with that of other recession episodes. It documents two new stylized facts. First, labor-market recovery from financial crises is...
Persistent link: https://www.econbiz.de/10013099123
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Is Poland the Next Spain?
Caselli, Francesco - 2012
We revisit Western Europe's record with labor-productivity convergence, and tentatively extrapolate its implications for the future path of Eastern Europe. The poorer Western European countries caught up with the richer ones through both higher rates of physical capital accumulation and greater...
Persistent link: https://www.econbiz.de/10013101075
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The Market Crash and Mass Layoffs : How the Current Economic Crisis May Affect Retirement
Coile, Courtney - 2010
Recent dramatic declines in U.S. stock and housing markets have led to widespread speculation that shrinking retirement …
Persistent link: https://www.econbiz.de/10013150735