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In the last half of the 1990s, labor productivity growth rose in the U.S. and fell almost everywhere in Europe. We … document changes in both capital deepening and multifactor productivity (MFP) growth in both the information and communication … technology (ICT) and non-ICT sectors. We view MFP growth in the ICT sector as investment-specific productivity (ISP) growth. We …
Persistent link: https://www.econbiz.de/10014066453
In the second half of the 1990s, labor productivity growth rose in the United States and declined in most parts of … Europe. This paper documents changes in capital deepening and multi-factor productivity (MFP) growth in information and … communication technology (ICT) and non-ICT sectors. We consider MFP growth in the ICT sector as investment-specific productivity …
Persistent link: https://www.econbiz.de/10012948772
This paper provides a broad empirical examination of the major currencies' roles in international capital markets, with a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both for international financing as well as for international...
Persistent link: https://www.econbiz.de/10009767695
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The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was associated with notable cross-country differences in the behaviour of key macroeconomic aggregates. Compared to the low interest rate countries, former high interest rate...
Persistent link: https://www.econbiz.de/10012770251
This paper provides a technical description of the overlapping generations model used by the Joint Research Centre to analyse tax policy reforms, including in particular pension and demographic issues. The main feature of the EDGE-M3 model lies in its high level of disaggregation and the close...
Persistent link: https://www.econbiz.de/10012241664
An open-economy DSGE model for the euro area is presented, with the explicit aim to model the price pass-through for foreign shocks, with a special emphasis on oil price shocks. The model includes a multiple-sector supply side with explicit use of energy as a factor of production and the...
Persistent link: https://www.econbiz.de/10014053862