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We argue that the economy of the industrialized world taken as a whole is currently - and for the foreseeable future will remain - highly prone to secular stagnation. But for extraordinary fiscal policies, real interest rates would have fallen much more and be far below their current slightly...
Persistent link: https://www.econbiz.de/10012480142
productivity of instructional time is higher in countries which implemented school accountability measures or that gave schools …
Persistent link: https://www.econbiz.de/10012462428
This is the introduction and summary to the fourth phase of an ongoing project on Social Security Programs and Retirement Around the World. The first phase described the retirement incentives inherent in plan provisions and documented the strong relationship across countries between social...
Persistent link: https://www.econbiz.de/10012464002
productivity is endogenously enhanced? To address these questions, we focus on the dynamic effect of trade, in particular, how …
Persistent link: https://www.econbiz.de/10012480413
productivity. HRM includes incentive pay (individual and group) as well as many non-pay aspects of the employment relationship such … literature on management practices and productivity. We start with some facts on levels and trends of both HRM and productivity … regulation. The largest section analyses the impact of HRM on productivity emphasizing issues of methodology, data and results …
Persistent link: https://www.econbiz.de/10012462634
Income differences across countries primarily reflect differences in total factor productivity (TFP). More …
Persistent link: https://www.econbiz.de/10012463734
. We construct a new version of Lucas?s (1972) monetary misperceptions model, with a real shock (productivity) and a … to develop a new procedure for identifying the two shocks. The identified productivity shock has a large country …-specific component, and is highly correlated with actual productivity. The identified monetary shock has a large common component, and is …
Persistent link: https://www.econbiz.de/10012467448
International comparisons of the level of labor or total factor productivity have used exchange rates or purchasing … persistent, raising the need for disaggregate price measures to make disaggregate productivity comparisons. Sectoral differences …
Persistent link: https://www.econbiz.de/10012468414
This paper is motivated by a set of cross-country observations on labor productivity growth among industrial countries … labor productivity has increased dramatically. The main contribution of the paper is to show how these observations are … demographic factors temporarily become an major determinant of labor productivity growth. Our estimation of the model implies that …
Persistent link: https://www.econbiz.de/10012469961
these tasks are designed to be used by skilled workers, productivity in the LDCs will be low. Even when all countries have … factor productivity and output per worker. Our theory also suggests that productivity differences should be highest in medium … effect on the direction of technical change and on productivity differences …
Persistent link: https://www.econbiz.de/10012471932