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A consistent set of disaggregated industrial output data for four Eastern European countries is examined in order to determine the extent to which structural adjustment has taken place since the initiation of market-oriented reform. The latter created a massive relative price shock whose effects...
Persistent link: https://www.econbiz.de/10012781656
I analyse the effect of Brexit vote on UK manufacturing divisions using a synthetic control methodology. My results show that in the three years following the Brexit referendum, the UK total manufacturing sector's employment decreased by an average of 1.7% per quarter. When investigating the...
Persistent link: https://www.econbiz.de/10013251034
The results of this paper challenge the conventional wisdom in the literature that productivity plays no role in the economic development of Singapore. Properly accounting for market power and returns to scale technology, the estimated average productivity growth is twice as large as the...
Persistent link: https://www.econbiz.de/10014113066
We provide industry-level estimates of the elasticity of substitution (σ) between capital and labor in the US economy. We also estimate rates of factor-augmentation. Aggregate estimates are produced using the same data. Our empirical model comes from the first-order conditions associated with a...
Persistent link: https://www.econbiz.de/10013115989
Measures of institutional quality are strong predictors of cross-country differences in income and productivity. The institutional economics literature has long maintained that one way institutions influence economic growth is by impacting the efficient allocation of production factors across...
Persistent link: https://www.econbiz.de/10012900823
Theoretical models of endogenous growth identify capital accumulation and returns as a potential stimulus to economic growth. Existing empirical studies, however, are based on a limited notion of these returns, which follows from the simple production function framework used for estimation. The...
Persistent link: https://www.econbiz.de/10014064040
We estimate long-run elasticities of substitution between intermediate inputs for Indian manufacturing plants. India's trade liberalization in the early 1990s provides an ideal natural policy experiment, with permanent and heterogeneous tariff reductions inducing changes in relative prices which...
Persistent link: https://www.econbiz.de/10014287334
This study investigates how financial development affects capital allocation across industries in a panel of countries at different stages of development (China, India, Mexico, Korea, Japan and the US) over the period 1980-2014. Following the approach proposed by Chari et al (2007) and Aoki...
Persistent link: https://www.econbiz.de/10012943765
This study investigates how financial development affects capital allocation across industries in a panel of countries at different stages of development (China, India, Mexico, Korea, Japan and the US) over the period 1980-2014. Following the approach proposed by Chari et al (2007) and Aoki...
Persistent link: https://www.econbiz.de/10012944025
We use transaction-level data to study changes in the concentration of US imports. Concentration has fallen in the typical industry, while it is stable by industry and origin country. The fall in concentration is driven by the extensive margin: the number of exporting firms has grown, and the...
Persistent link: https://www.econbiz.de/10012495680