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economic miracle, elasticities of real wages to productivities - that is the ratios of rates of variations of the former to the … determination processes. The low elasticities of wages to productivity are plausibly the consequence of the massive flow of migrant …
Persistent link: https://www.econbiz.de/10011986753
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hiring costs to analyse the link between sectoral resource allocation, low productivity growth and stagnant real wages. My … wages. I show, however, that in the immediate phase following the labor supply shock, labor productivity and real wages … technology growth and depressing real wages and productivity. I demonstrate that due to the learning-by-doing growth externality …
Persistent link: https://www.econbiz.de/10012870989
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 120% in the 1987-93 period due to (exogenous) political changes …
Persistent link: https://www.econbiz.de/10012597043
This chapter covers the theory and methods for productivity measurement for nations. Labor, multifactor and total …
Persistent link: https://www.econbiz.de/10014024949
A recent explanation for declining GDP growth is that R&D has gotten harder. The formal explanation in Jones (1995) is “fishing out”-- idea discovery decreases in the level of knowledge. If valid, long-run growth is exogenous. In follow-on empirical work, Bloom, Jones, Van Reenen and Webb...
Persistent link: https://www.econbiz.de/10012824731
In a recent paper, Bloom et al. (2020) find evidence for a substantial decline in research productivity in the U.S. economy during the last 40 years. In this paper, we replicate their findings for China and Germany, using detailed firm-level data spanning three decades. Our results indicate that...
Persistent link: https://www.econbiz.de/10012239797
This paper attempts to explain the growth of labour productivity through (inter)national spillovers from R&D and patenting. We develop a model that is tested for Germany, France, the United Kingdom and the United States of America using a new set of panel data for the period 1955 until 1991. The...
Persistent link: https://www.econbiz.de/10014209999
Secular stagnation refers not to the literal stagnation, i.e., stopping of economic growth but rather to the slowing of U.S. potential real GDP growth to half or less of its historical pace. The retardation of potential real GDP growth matters both because of its direct impact on the standard of...
Persistent link: https://www.econbiz.de/10012982246
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