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Many empirical studies find a negative correlation between the returns on the nominal spot exchange rate and the lagged forward discount. This forward discount anomaly implies that the current forward rate is a biased predictor of the future spot rate. A large number of studies in the existing...
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suggests that the shift of employment shares from manufacturing to services is due to divergent growth rates of total factor … relationship between employment growth and TFP growth. …
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suggests that the shift of employment shares from manufacturing to services is due to divergent growth rates of total factor … relationship between employment growth and TFP growth. …
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network in amplifying sectoral dynamics on aggregate trend gross domestic product growth. This allows us to study the impact … of sectoral labor input and total factor productivity trend growth variation on the persistent decline in long-run output … growth. Our estimation reveals that sector-specific developments have historically accounted for half of this long …
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this process. This paper aims to shed some light on the relation between entrepreneurship and growth by arguing that … entrepreneurial activity relates to growth via reallocation of factors across sectors. While the importance of entrepreneurship for … the reallocation of factors is widely acknowledged, and economic growth may be accelerated by structural change, there is …
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