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Economic growth requires factor reallocation across firms and continuous replacement of technologies. Labor market institutions influence economic dynamism by their impact on the supply of a key factor, skilled workers to new and expanding firms, and the shedding of workers from declining and...
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Economic growth requires factor reallocation across firms and continuous replacement of technologies. Labor market institutions influence economic dynamism by their impact on the supply of a key factor, skilled workers to new and expanding firms, and the shedding of workers from declining and...
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This study consists of an examination of productivity growth following three major technological breakthroughs: the … original invention until a substantial increase in the rate of productivity growth can be observed. There is also strong … persuasive direct evidence that the steam engine producing industry and electric machinery had particularly high productivity …
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