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"This paper shows that economic fluctuations can be largely demand-driven. In particular, the stylized open-economy business cycle regularities documented by Feldstein and Horioka (1980) and Backus, Kehoe and Kydland (JPE 1992) can be explained by the standard general equilibrium theory if...
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Unlike most countries, Korea did not implement a lockdown in its battle against COVID-19, instead successfully relying on testing and contact tracing. Only one region, Daegu-Gyeongbuk, had a significant number of infections, traced to a religious sect. This allows us to estimate the causal...
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While many studies explain the correlation between firm-level productivity and export status entirely by better firms … provinces with weaker institutions. The same type of firms also enjoy the largest productivity gains immediately following …
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between R&D expenditures and productivity growth. The analysis considers the different contributions of various forms of R … Productivity (TFP). Thus, this paper answers the call for more research on the links between a firm's external R&D and its … productivity. In the cross-section econometric analysis, we estimate a Treatment Effects model based on the assumption that the …
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"This paper examines the technical efficiency of U.S. Federal reserve check processing offices over 1980-2003. We use new unconditional quantile estimator of efficiency that avoids some drawbacks of other recently proposed estimators. The new estimator is fully non-parametric, robust with...
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