with respect to productivity, we demonstrate that productivity growth affects the labour share in the long run due to … frictional growth (that is, the interplay of wage dynamics and productivity growth). In the light of this result, we consider a … (or, equivalently, the wage-productivity gap) deserves the attention of policy makers. …

The recent literature on externalities of schooling in the U.S. is rather mixed: positive external effects of average … education are hardly found at all, while often positive externalities from the share of college graduates are identified. This … technologies, associated with high total factor productivity and high returns to skills, are complementary to highly educated …

The paper examines policy externalities between imperfectly competitive open economies where unemployment prevails in … bargaining in the labor market. Policy externalities operate through the real exchange rate and economic integration is modeled …

We study how total factor productivity (TFP), energy prices, and the Great Moderation are linked. First we estimate a … negatively affected productivity. This spillover has since disappeared. Second, we show that within the framework of a dynamic … stochastic general equilibrium model, the disappearance of this energy-productivity spillover generates the significantly lower …

This paper examines Total Factor Productivity (TFP) and knowledge flows, using international patent data. The result is …-industry innovation enhances domestic productivity, and domestic between industry innovations are productivity enhancing. However, foreign …-sourced between-industry innovation has a negative effect on domestic productivity. This highlights the dual aspect of patents as a …