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Capital Reallocation and Aggregate Productivity

Cooper, Russell W. - 2013

This paper studies the productivity implications of the cyclical reallocation of capital. Frictions in the reallocation … reallocation and thus in productivity. These frictions also impact the capital accumulation decision. The effects are … plant-level productivity. Instead of relying on approximative solution techniques we show analytically that a higher …

Persistent link: https://www.econbiz.de/10012458948

Investment Dispersion and the Business Cycle

Bachmann, Ruediger - 2011

productivity and output growth, which is countercyclical. Investment dispersion is more procyclical in the goods-producing sectors …We document a new business cycle fact: the cross-sectional standard deviation of firm-level investment (investment … dispersion) is robustly and significantly procyclical. This makes investment dispersion different from the dispersion of …

Persistent link: https://www.econbiz.de/10012461797

Productivity and Wages : Common Factors and Idiosyncrasies Across Countries and Industries

Lazear, Edward P. - 2019

Average wage growth is closely related to aggregate productivity growth across countries and within countries over time …. The commonality of patterns across OECD countries suggests that common factors are at work. Are productivity …-biased technological change or other factors? To answer this, it is necessary to observe education-specific productivity growth. Cross …

Persistent link: https://www.econbiz.de/10012480371

Immigration, Investment and Real Wages

Brezis, Elise S. - 1993

investment, together with increasing returns, may well actually increase real earnings. If immigration itself is not wholly …

Persistent link: https://www.econbiz.de/10012474377

Resurrecting the Role of the Product Market Wedge in Recessions

Bils, Mark - 2014

Employment and hours appear far more cyclical than dictated by the behavior of productivity and consumption. This …

Persistent link: https://www.econbiz.de/10012458110

The Labor Wedge : MRS vs. MPN

Karabarbounis, Loukas - 2013

Do fluctuations of the labor wedge, defined as the gap between the firm's marginal product of labor (MPN) and the household's marginal rate of substitution (MRS), reflect fluctuations of the gap between the MPN and the real wage or fluctuations of the gap between the real wage and the MRS? For...

Persistent link: https://www.econbiz.de/10012459647

Measuring the Cyclicality of Real Wages : How Important is Composition Bias

Solon, Gary - 1992

In the period since the 1960's, as in other periods, aggregate time series on real wages have displayed only modest cyclicality. Macroeconomists therefore have described weak cyclicality of real wages as a salient feature of the business cycle. Contrary to this conventional wisdom, our analysis...

Persistent link: https://www.econbiz.de/10012474765

Real Wages Over The Business Cycle

Barsky, Robert B. - 1989

This paper is an examination of cyclical real wage behavior in the United States since World War II. Like most previous aggregate studies. ours finds little cyclicalitv in aggregate industry real wage data. On the other hand, our analysis of longitudinal microdata from the Panel Study of Income...

Persistent link: https://www.econbiz.de/10012476166

The Changing Cyclical Behavior of Wages and Prices : 1890-1976

Sachs, Jeffrey D. - 1978

The persistence of inflation during periods of high unemployment poses the central problem for macroeconomic policy in coming years. The extent of success in reducing both inflation and unemployment will depend strongly on the short-run responsiveness of wage inflation to unemployment and excess...

Persistent link: https://www.econbiz.de/10012478846

The Portuguese Slump and Crash and the Euro Crisis

Reis, Ricardo - 2013

forward a model of credit frictions to show that if financial integration exceeds financial deepening, productivity will fall …

Persistent link: https://www.econbiz.de/10012459373