and private sector deleveraging, reduce the fragility of the banking sector, counter the falling behind of southern … experience of the emerging countries of Asia and Latin America. 3) Productivity improvement was immediate in the US, but Europe … hoarded labour and productivity improvements were in general delayed. Southern European countries have hardly adjusted so far …

growth ; deleveraging ; productivity ; convergence ; economic adjustment ; structural reform scoreboard ; composition of … sector deleveraging, reduce the fragility of the banking sector, counter the falling behind of southern European countries … emerging countries of Asia and Latin America. Productivity improvement was immediate in the US, but Europe hoarded labour and …

productivity (TFP), as well as possible government responses to these shocks, in particular, changes in industrial policy. In …

I propose a two-sector endogenous growth model with heterogeneous sectoral productivity and sector-specific, nonlinear … hiring costs to analyse the link between sectoral resource allocation, low productivity growth and stagnant real wages. My … implemented in Germany in 2003-2005, is beneficial in the long-run as it raises growth of technology, labor productivity and real …