Despite sound policies and institutions, Danish productivity has grown modestly over the past decade, both historically and in relation to other countries, contributing to weak economic growth and an erosion in competitiveness. An examination of the four potential drivers of this puzzle, namely...

The longer run consequences of the pandemic will partly hinge on its impact on high productivity firms, and the ongoing process of labour reallocation from low to high productivity firms. While Schumpeter (1939) proposed that recessions can accelerate this process, the nature of the COVID-19...

The consequences of the pandemic for potential output will partly hinge on its impact on high productivity firms, and more generally the ongoing process of productivity-enhancing reallocation – the rate at which scarce resources are reallocated from less productive to more productive firms....

The green transformation of the economy is expected to lead to a sharp reduction in employment in carbon-intensive industries. For designing policies to support displaced workers, it is crucial to better understand the cost of job loss, whether there are specific effects of being displaced from...

This report reviews the literature on the distributional consequences of climate change and mitigation and transition pathways. The heterogeneous levels of exposure and vulnerability to climate change across countries, regions, households, and workers hint at the significant distributional costs...

In contrast to what has happened throughout the 1960s and 1970s, some of the largest EU countries and Japan are no longer closing the income gap vis-à-vis the United States. Worse, the gap may even be widening since the mid-1990s. While in the case of Japan the gap in GDP per capita is...

With high unemployment, low participation of specific groups such as the low-skilled and those nearing retirement age, and relatively low average hours worked, France is far from using its full labour potential. Improving the labour market situation would not only increase living standards and...

The economic integration of the eastern German states has progressed rapidly in many respects. The infrastructure has been rapidly built up and modernised. A strong trend to modernise the business capital stock has been established, aided by financial assistance from the west. Already at the...

This paper uses a variety of empirical methods to examine the apparent differences in monetary policy stances as between the United States and other G7 economies, notably those in the euro area, during the period of sharp increases in oil and other commodity prices in the first half of 2008. In...

Labour force participation is comparable to the OECD area for prime-age males. It is somewhat lower for females and is trending down for youths as a result of rising school enrolment. The labour market is placing an increasing premium on skills, making it particularly difficult for the less...