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Patterns of Convergence and Divergence in the Euro Area
Gali, Jordi; Lopez-Salido, J. David; Estrada, Ángel - National Bureau of Economic Research (NBER) - 2013
We study the extent of macroeconomic convergence/divergence among euro area countries. Our analysis focuses on four variables (unemployment, inflation, relative prices and the current account), and seeks to uncover the role played by monetary union as a convergence factor by using non-euro...
Persistent link: https://www.econbiz.de/10010969299
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Product and Labor Market Regulations, Production Prices, Wages and Productivity
MAIRESSE, Jacques; Cette, Gilbert; Lopez, Jimmy - National Bureau of Economic Research (NBER) - 2014
This study is an attempt to evaluate the effects of product and labour market regulations on industry productivity through their various impacts on changes in production prices and wages. In a first stage, the estimation of a regression equation on an industry*country panel, with controls for...
Persistent link: https://www.econbiz.de/10010950712
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Upstream Product Market Regulations, ICT, R&D and Productivity
MAIRESSE, Jacques; Cette, Gilbert; Lopez, Jimmy - National Bureau of Economic Research (NBER) - 2013
through which upstream sector anticompetitive regulations may impact productivity growth: business investments in R&D and in …
Persistent link: https://www.econbiz.de/10010821929
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"Aggregation Bias" DOES Explain the PPP Puzzle
Imbs, Jean M.; Ravn, Morten; Rey, Helene; Mumtaz, Haroon - National Bureau of Economic Research (NBER) - 2005
This article summarizes our views on the role of an "aggregation bias" in explaining the PPP Puzzle, in response to the several papers recently written in reaction to our initial contribution. We discuss in particular the criticisms of Imbs, Mumtaz, Ravn and Rey (2002) presented in Chen and...
Persistent link: https://www.econbiz.de/10005580558
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What Drives Aggregate Investment?
Bachmann, Rüdiger; Zorn, Peter - National Bureau of Economic Research (NBER) - 2013
shocks to the variance of the aggregate investment growth rate of 19 percent. The larger part of fluctuations in aggregate …
Persistent link: https://www.econbiz.de/10010969200
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Exploring Reallocation's Apparent Weak Contribution to Growth
Nishida, Mitsukuni; Petrin, Amil; Polanec, Sašo - National Bureau of Economic Research (NBER) - 2013
recent robust growth in Aggregate Labor Productivity (ALP) across twenty-five countries is due to lower barriers to input … may be because BHC indices decompose ALP growth using plant-level output-per-labor (OL) as a proxy for the marginal … 1) reallocation growth from labor should track marginal changes in labor weighted by the marginal product of labor, 2 …
Persistent link: https://www.econbiz.de/10010969274
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Dynamic Olley-Pakes Productivity Decomposition with Entry and Exit
Melitz, Marc J.; Polanec, Sašo - National Bureau of Economic Research (NBER) - 2012
associated with entry and exit is substantial, accounting for up to 10 percentage points of aggregate productivity growth. We …
Persistent link: https://www.econbiz.de/10010969280
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On the Measure of Distortions
Hopenhayn, Hugo A. - National Bureau of Economic Research (NBER) - 2014
Abstract The paper considers formally the mapping from distortions in the allocations of resources across firms to aggregate productivity. TFP gaps are characterized as the integral of a strictly concave function with respect to an employment-weighted measure of distortions. Size related...
Persistent link: https://www.econbiz.de/10010890103
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American Incomes 1774-1860
Lindert, Peter H.; Williamson, Jeffrey Gale - National Bureau of Economic Research (NBER) - 2012
Building what we call social tables, this paper quantifies the level and inequality of American incomes from 1774 to 1860. In 1774 the American colonies had average incomes exceeding those of the Mother Country, even when slave households are included in the aggregate. Between 1774 and 1790,...
Persistent link: https://www.econbiz.de/10010950653
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Growth in Regions
La Porta, Rafael; Lopez-de-Silanes, Florencio; … - National Bureau of Economic Research (NBER) - 2013
convergence within and across countries. Regional growth is shaped by similar factors as national growth, such as geography and … neoclassical growth model suggests that significant barriers to factor mobility within countries are needed to account for the …
Persistent link: https://www.econbiz.de/10010950694