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Productivity-enhancing labour reallocation in Australia
Andrews, Dan; Hansell, David - 2019
inputs away from less productive firms and towards more productive firms, but little is known about this process in Australia …. Accordingly, this paper exploits firm-level data to explore the nature of productivity-enhancing labour reallocation in Australia … aggregate level of productivity in Australia. Moreover, we show that the Australian economy is more successful at reallocating …
Persistent link: https://www.econbiz.de/10012138128
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Subsidization and structural change in Eastern German transition : did economic policy meet its objectives?
Gerling, Katja - 2000
Economic policy interventions of a scale as effected in eastern Germany can be expected to have a significant impact on the economy, which may be in accordance with the objectives of the policy measures or manifest itself in distortions of several kinds. This paper analyzes the structural...
Persistent link: https://www.econbiz.de/10011472466
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Deep dynamics
Gottfries, Nils; Mickelsson, Glenn; Stadin, Karolina - 2018
Combining micro and macro data, we construct demand-side shocks, which we take to be exogenous for individual firms. We estimate a reduced-form model to describe how firms adjust their production, employment, capital stock, and inventories in response to such shocks. Then, we chose the...
Persistent link: https://www.econbiz.de/10011867639
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Deep dynamics
Gottfries, Nils; Mickelsson, Glenn; Stadin, Karolina - 2021
How do firms adjust their output, inventories, employment and capital in response to demandsideshocks? To understand this, we estimate a reduced-form model using firm-level panel dataand we construct a theoretical model that can match the estimated impulse-response functions.A combination of...
Persistent link: https://www.econbiz.de/10012428917
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Capital reallocation and the cyclicality of aggregate productivity
Cooper, Russell W.; Schott, Immo - In: Quantitative economics : QE ; journal of the … 14 (2023) 4, pp. 1337-1365
Capital reallocation between firms is procyclical and leads to variations in measured aggregate productivity. In this paper, we ask how much of the cyclical variation in measured productivity is the consequence of capital reallocation. We build a heterogeneous-firm model to study the effects of...
Persistent link: https://www.econbiz.de/10014496527
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Labour market dynamics in Australia : what drives unemployment?
Karanassou, Marika (contributor); Sala, Hector (contributor) - 2009
The debate in Australia on the (constant-output) elasticity of labour demand with respect to wages has wrongly … area which is particularly relevant for Australia. This paper attempts to fill this void by estimating a multi …
Persistent link: https://www.econbiz.de/10003793964
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Labour market dynamics in Australia : what drives unemployment
Karanassou, Marika; Sala, Hector - 2009
The debate in Australia on the (constant-output) elasticity of labour demand with respect to wages has wrongly … area which is particularly relevant for Australia. This paper attempts to fill this void by estimating a multi …
Persistent link: https://www.econbiz.de/10003799513
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The Economic Consequences of Terrorism
Lenain, Patrick - 2002
The unprecedented 11 September 2001 terrorist attacks in the United States caused massive casualties and damage, and ushered in an era of greater uncertainty. While a prompt and vigorous policy response helped limit the immediate economic impact of the aggression, the heightened terrorist threat...
Persistent link: https://www.econbiz.de/10012445059
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Uncertainty and capacity constraints : reconsidering the aggregate production function
Gracia, Eduard - 2011
The Cobb-Douglas function is today one of the most widely-adopted assumptions in economic modeling, yet both its theoretical and empirical basis have long been under question. The purpose of this paper is to build an alternative production function on neoclassical microfoundations to address...
Persistent link: https://www.econbiz.de/10008990456
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On the power and weakness of rational expectations : logical fallacies, periodic bubbles and business cycles
Gracia, Eduard - 2012
A popular interpretation of the Rational Expectations/Efficient Markets hypothesis states that, if the hypothesis holds, then market valuations must follow a random walk. This postulate has frequently been criticized on the basis of empirical evidence. Yet the assertion itself incurs what we...
Persistent link: https://www.econbiz.de/10009547387