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Equilibrium wage arrears : a theoretical and empirical analysis of institutional lock-in
Earle, John S.; Sabirianova Peter, Klara - 2000
We present a model of wage contract violation that implies a possibility of multiple equilibria in the level of arrears. Positive feedback arises because each employer's arrears affect the costs of late payment faced by other employers operating in the same labor market, resulting in a network...
Persistent link: https://www.econbiz.de/10011339102
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Great expectations : a tale of two transitions
Girardi, Daniele; Veneziani, Roberto; Wengle, Susanne - 2023
that characterise the transition process in both the economic and political realms. Contrary to a widespread assumption … survey the vast empirical literature on transition economies in order to provide evidence on the correlation between … expectations at the beginning of transition and success of the transition process. We provide the first comprehensive survey of the …
Persistent link: https://www.econbiz.de/10014455426
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Decomposing the Co-Movement of the Business Cycle : A Time-Frequency Analysis of Growth Cycles in the Euro Area
Crowley, Patrick M. - 2006
This article analyses the frequency components of European business cycles using real GDP by employing multiresolution decomposition (MRD) with the use of maximal overlap discrete wavelet transforms (MODWT). Static wavelet variance and correlation analysis is performed, and phasing is studied...
Persistent link: https://www.econbiz.de/10012734874
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Institutional Integration and Economic Growth
Coricelli, Fabrizio - 2020
The literature on the growth effects of European integration remains inconclusive. This is due to severe methodological difficulties mostly driven by country heterogeneity. This paper addresses these concerns using the synthetic control method. It constructs counterfactuals for countries that...
Persistent link: https://www.econbiz.de/10012825969
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Recurring Cycles? A Multidimensional Analysis of Economic Volatility and Growth
Huric Larsen, Jesper Fredborg - 2018
A non-linear model utilising the sine function is proposed as an appropriate model of economic growth over time and is used to examine the link between volatility and economic growth. The most appropriate functional relationship is found by using non-linear generalised least square estimation on...
Persistent link: https://www.econbiz.de/10012912689
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Specific and General Human Capital in an Endogenous Growth Model
Vourvachaki, Evangelia - 2014
In this paper, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy's composition of specific and general human capital, in a model where education and R&D are costly and...
Persistent link: https://www.econbiz.de/10013039933
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The diffusion of technological progress in ICT
Elstner, Steffen; Grimme, Christian; Kecht, Valentin; … - 2020
We study whether technology gains in sectors related to Information and Communications Technology (ICT) increase productivity in the rest of the economy. To separate exogenous gains in ICT from other technological progress, we use the relative price of ICT goods and services in a structural VAR...
Persistent link: https://www.econbiz.de/10012391362
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Capital and Trade as Engines of Growth in France : An Application of Johansen's Cointegration Methodology
Coe, David T. - 2006
An aggregate production function is estimated with recent cointegrating techniques that are particularly appropriate for estimating long-run relationships. The empirical results suggest that the growth of output in France has been spurred by increased trade integration within the European...
Persistent link: https://www.econbiz.de/10012781789
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Commanding Nature by Obeying Her : A Review Essay on Joel Mokyr's a Culture of Growth
Spolaore, Enrico - 2019
Why is modern society capable of cumulative innovation? In A Culture of Growth: The Origins of the Modern Economy, Joel Mokyr persuasively argues that sustained technological progress stemmed from a change in cultural beliefs. The change occurred gradually during the seventeenth and eighteenth...
Persistent link: https://www.econbiz.de/10012865698
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Digitalisation, Institutions and Governance, and Growth : Mechanisms and Evidence
Labhard, Vincent; Lehtimäki, Jonne - 2022
Digitalisation may be viewed as a sequence of supply and technology shocks affecting the economy through productivity and output, employment and labour markets, competition and market structure. This paper focuses on the effects of digitalisation on economic growth, and how those effects may...
Persistent link: https://www.econbiz.de/10014076473