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's model for the productivity regime is calibrated on - OECD data. The trajectory for employment predicted by the combination …-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with - and Baumol … of the two models tracks the actual employment dynamics in the OECD over the period 1970-2010 remarkably well. …
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businesses boost the capital stock and the employment rate. No robust link between labour market regulation and MFP and capital … deepening could be established. But looser labour market regulation is found to go hand in hand with higher employment rates …
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Recent research has revealed enormous variation in performance and growth among firms, which both drives and is driven by large reallocations of inputs and outputs across firms (churning) within industries and markets. These differences in firm-level outcomes and the associated turnover of firms...
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