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Political power, resistance to technological change and economic development : evidence from the 19th century Sweden
Tyrefors, Björn; Lindgren, Erik; Pettersson-Lidbom, Per - 2017 - This version: June 16, 2017
We analyze investment decisions when information is costly, with and without delegation to an agent. We use a rational-inattention model and compare it with a canonical signal-extraction model. We identify three "investment conditions". In "sour" conditions, no information is acquired and no...
Persistent link: https://www.econbiz.de/10011667675
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Economic growth through worker reallocation : the role of knowledge spillovers
Mäkynen, Eero - 2021
An establishment can improve its productivity by hiring workers from more productive establishments. Then, how important is worker reallocation for aggregate productivity growth? To study this question, I develop a general equilibrium model where knowledge transmits as workers reallocate from...
Persistent link: https://www.econbiz.de/10012583063
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An analysis of labour adjustment costs in unionized economies
Modesto, Leonor; Thomas, Jonathan P. - 2000
period and firms react by choosing employment, and (ii) for the commitment equilibria where the union can precommit to the … entire (infinite) sequence of wages. We conclude that the speed of adjustment of employment, that is higher in the … employment and wages only in the no-commitment case, i.e., the higher the relevance of adjustment costs the higher the wage and …
Persistent link: https://www.econbiz.de/10011339692
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The economic impacts of telecommunications networks and broadband internet : a survey
Bertschek, Irene; Briglauer, Wolfgang; Hüschelrath, Kai; … - 2016
broadband adoption, respectively, we review studies investigating the impacts on economic growth, employment and regional …
Persistent link: https://www.econbiz.de/10011522665
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Transition to democracy, real wages and productivity: the Turkish experience
Taymaz, Erol; Voyvoda, Ebru; Yılmaz, Kamil - 2021
We analyze the behavior of plant-level real wages and productivity in Turkish manufacturing after the transition to democracy in 1987 and test whether wages under democracy causes productivity. The Turkish experience provides almost an experimental case: real wages in manufacturing increased by...
Persistent link: https://www.econbiz.de/10012597043
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Human capital demand in Brazil : the effects of adjustment cost, economic growth, exports and imports
Dias, Joilson - In: Economia : revista da ANPEC 16 (2015) 1, pp. 76-92
The objective of this paper is to learn about the effects of the adjustment costs, economic growth, imports and exports on human capital labor demand. The dynamic model proposed by Sargent (1978) was adjusted to consider three types of human capital: (a) one with fundamental education (1-8 years...
Persistent link: https://www.econbiz.de/10011865404
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The inventory growth spread
Belo, Frederico; Lin, Xiaoji - 2012
Previous studies show that firms with low inventory growth outperform firms with high inventory growth in the cross-section of publicly traded firms. In addition, inventory investment is volatile and procyclical, and inventory-to-sales is persistent and countercyclical. We embed an inventory...
Persistent link: https://www.econbiz.de/10009697751
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Falling labor share and rising unemployment : long-run consequences of institutional shocks?
Berthold, Norbert; Fehn, Rainer; Thode, Eric - 1999
largely neglected. Job-creation is often thought to be a matter of encouraging more employment on a given capital stock. In … employment. It is shown that the usual trade off between employment and wages disappears in the long run. In line with an …
Persistent link: https://www.econbiz.de/10010495336
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The heterogeneity of Okun's law : a metaregression analysis
Porras-Arena, M. Sylvina; Martín-Román, Ángel L. - 2022
Okun's law is an extremely influential parameter in empirical research and policy analysis, based on the sizable number of estimates from this perspective. Nevertheless, it is also subject to considerable heterogeneity. We first show graphical and statistical evidence on the existence of a high...
Persistent link: https://www.econbiz.de/10013164466
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China's march to prosperity : reforms to avoid the middle-income trap
Koen, Vincent; Herd, Richard; Hill, Sam - 2013
China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...
Persistent link: https://www.econbiz.de/10010231008