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Labor productivity is more procyclical in OECD countries with lower employment volatility. To capture this new stylized … our model with variable effort, greater labor market frictions are associated with procyclical labor productivity as well … data. By implication, labor market deregulation has a greater effect on the cyclicality of labor productivity and on the …
Persistent link: https://www.econbiz.de/10012547644
-non-tradable framework (T-NT) to evaluate the heterogeneity in labour productivity before and after the great recession. We find that, across … all countries, non-tradables were less relevant for aggregate productivity. The low productivity growth in peripheral EU … in the legal system help to explain the observed productivity growth differentials. …
Persistent link: https://www.econbiz.de/10011775650
We study the situation when a commodity-exporting economy is under sanctions and cannot use its accumulated fx-reserves or attract new fx-debt to smooth import restrictions amid slower decline of income flow from a commodity-export. Our study attempts to determine the adequate response of the...
Persistent link: https://www.econbiz.de/10015394393
education expenditures, financed by distorting taxes, enhance the productivity of private education choices. We allow public … variance of total factor productivity shocks. Our results indicate that, in the face of increasing aggregate uncertainty …
Persistent link: https://www.econbiz.de/10013316419
drivers of economic growth. In the current EU procedure, total factor productivity (TFP), which is interpreted as a measure of …
Persistent link: https://www.econbiz.de/10013455763
This study aims to measure the effect of money supply on the rate of interest and gross domestic product (GDP) of the private sector in Jordan and show the effect of money supply on domestic product in order to determine the effect nature of narrow and expanded money supply of Jordanian economy....
Persistent link: https://www.econbiz.de/10014507287
Jobless growth in the South Korean manufacturing industry has been observed since 2015. Even as total value added in the manufacturing sector is continuously growing, manufacturing employment levels are decreasing; this pattern first emerged in the 1990s, lasting for a decade. The decoupling of...
Persistent link: https://www.econbiz.de/10014263910
This paper analyzes the potential spillovers of a slowdown in Chinese growth to the United States and the rest of the world. Through a combination of structural VAR and DSGE analyses, we find that (1) spillovers from China to the rest of the world have grown significantly in the past decade; (2) the...
Persistent link: https://www.econbiz.de/10014284269
taxation be structured to improve productivity, incentivize innovation, and ultimately increase welfare? We study these … their productivity and are subject to collateral constraints. The stationary equilibrium features heterogeneous returns and … misallocation of capital. We show that increasing the wealth tax increases aggregate productivity. The gains result from the "use …
Persistent link: https://www.econbiz.de/10014576614
With US economy data we suggest that there exists a causal relationship between negative shocks in capital productivity … and positive shocks in the profit share. We argue that, faced with a capital productivity decrease, the US firm sector … tests that are robust to endogeneity and structural breaks, we show that decreases in capital productivity unidirectionally …
Persistent link: https://www.econbiz.de/10014095775