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This paper addresses the identification of low-frequency macroeconomic shocks, such as technology, in Structural Vector Autoregressions. Whilst identification issues with long-run restricted VARs are well documented, the recent attempt to overcome said issues using the Max-Share approach of...
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This paper reviews the determinants of Latin America's uneven growth based on an accounting decomposition that breaks down countries' growth (relative to the world) into three trade-related channels: (i) an export pull measuring the traction exerted by the country's exports, (ii) an external...
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Over the past decades, East Asia and Pacific's productivity has been gradually catching up with the frontier (the … United States), with China leading the pack. Productivity growth has been driven by sustained within-sector productivity … growth. Reallocation of labor to sectors with higher productivity, such as industry and services, also contributed to …
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