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This work examines the presence of unobserved components in the time series of Total Factor Productivity, which is an … cycles rely on certain properties of the different components of the time series of Total Factor Productivity. In the study … secular component of Total Factor Productivity. While in the study of business cycles, the Real Business Cycle approach …
Persistent link: https://www.econbiz.de/10005077119
as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital …
Persistent link: https://www.econbiz.de/10009650613
Using plant-level data, I show that the dispersion of total factor productivity in U.S. durable manufacturing is … greater in recessions than in booms. This cyclical property of productivity dispersion is much less pronounced in non … incumbents survive, which results in a more compressed productivity distribution. The resulting higher average productivity in …
Persistent link: https://www.econbiz.de/10009643729
Recently, the export performance of France relative to its own past and relative to a major trading partner, Germany, deteriorated. That deterioration seems related to the geographical destination and product composition of trend exports. Faced with an increase in unit labor costs or in its...
Persistent link: https://www.econbiz.de/10005769088
productivity in Canada. The North American Free Trade Agreement (NAFTA) and its predecessor, the Canada-U.S. Free Trade Agreement … productivity of Canadian industries, the persistence of structural differences between the two countries has prevented convergence … of aggregate labor productivity. While these findings seem to weigh against moving toward a monetary union, they also …
Persistent link: https://www.econbiz.de/10005769318
expenditures, innovation counts, and productivity figures. We find, among other things, the following: the pattern and nature of … in some sub-groups have had a greater impact on output and productivity than others and, moreover, the key players have … between technology shocks and employment, the role of technology in cross-country productivity differences, and the part …
Persistent link: https://www.econbiz.de/10008545925
managerial technology shock, output, productivity and hours significantly increase in the short run, second, these types of …
Persistent link: https://www.econbiz.de/10008553220
changes in telecommunications and computer technologies did significantly affect U.S. productivity and GDP growth in both the … productivity and capital all increase at the aggregate level. However, not all sectors of the economy respond in the same way … positive affect of the shock on Total Factor Productivity in the sector. Employment increases and capital increases appear to …
Persistent link: https://www.econbiz.de/10005069354
In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international real business cycle model and show that a thoughtful calibration of them along the lines of Raffo (2009) successfully addresses the "quantity", "international comovement",...
Persistent link: https://www.econbiz.de/10008671290
We examine the response of a sticky-wage economy to various real and nominal shocks. In addition to variations in hours, we allow for an endogenous response in worker effort per hour. Despite wages being predetermined, the labor market clears through the effort margin. We find that the ability...
Persistent link: https://www.econbiz.de/10005561229