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Each of the main explanations of procyclical labor productivity, or short-run increasing returns to labor (SRIRL), is …
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Each of the main explanations of procyclical labor productivity, or short-run increasing returns to labor (SRIRL), is …
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Exploring index of production data for six major UK manufacturing sectors, we investigate the interaction of the UK business cycle with changes in the industrial structure of the UK economy during the last three decades. We propose a Markov-switching vector equilibrium correction model with...
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