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well as aggregate TFP within the year. -- Labour compensation ; employment ; hours ; Total Factor Productivity … average labour compensation to microeconomic total factor productivity (TFP). Our results may be summarised as follows. First …
Persistent link: https://www.econbiz.de/10003832001
Labor productivity is more procyclical in OECD countries with lower employment volatility. To capture this new stylized … fact, we propose a business cycle model with employment adjustment costs, variable hours and labor effort. We show that, in … our model with variable effort, greater labor market frictions are associated with procyclical labor productivity as well …
Persistent link: https://www.econbiz.de/10012547644
In this paper, we present international comparisons of potential output growth among several economies Canada, the euro area, France, Germany, Italy, Japan, the Netherlands, the United Kingdom, and the United States for the period 1991-2004. The main estimates rely on a structural approach where...
Persistent link: https://www.econbiz.de/10003599439
productivity in advanced and emerging market and developing economies (EMDEs). This paper uses a new method to extract technology … shocks that ex- cludes these in uences, resulting in lasting improvements in labor productivity. The same methodology in turn … is used to identify a stylized example of the effects of a demand shock on productivity. Technology innovations are …
Persistent link: https://www.econbiz.de/10012499558
Persistent link: https://www.econbiz.de/10010233234
This paper investigates the role of economic structures as determinants of FDI inflows. We expand on the existing literature by focusing on advanced economies, using a newly available measure of FDI which cleans the data from statistical artefacts, such as financial round tripping, and by...
Persistent link: https://www.econbiz.de/10011647827
We review the determinants of the discretionary fiscal policy action of governments in the euro area and in other advanced economies during the past 20 years. This is done by estimating fiscal reaction functions using dynamic panel techniques and country-by-country estimates. The results suggest...
Persistent link: https://www.econbiz.de/10012135940
The paper shows that US monetary policy has been an important determinant of global equity markets. Analysing 50 equity markets worldwide, we find that returns fall on average around 3.8% in response to a 100 basis point tightening of US monetary policy, ranging from a zero response in some to a...
Persistent link: https://www.econbiz.de/10003320671
is directly aimed at reducing disparities in the employment sector. Against this background, the paper analyses the … impact of EU structural funds on employment drawing on a panel dataset of 130 European NUTS regions over the time period 1999 … funds ; dynamic panel models ; spatial panel econometrics ; regional employment effects …
Persistent link: https://www.econbiz.de/10009405602
Persistent link: https://www.econbiz.de/10010441318