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Productivity growth is carefully scrutinized by macroeconomists because it plays key roles in understanding private … public pension systems, among other things. However, estimates of recent and expected productivity growth rates suffer from … undergo important revisions.This paper documents the statistical (un)reliability of several measures of aggregate productivity …
Persistent link: https://www.econbiz.de/10013131484
Productivity growth is carefully scrutinized by macroeconomists because it plays key roles in understanding private … public pension systems, among other things. However, estimates of recent and expected productivity growth rates suffer from … productivity growth in the U.S. by examining the extent to which they are revised over time. The authors also examine the extent to …
Persistent link: https://www.econbiz.de/10014188317
The present study contributes to the analysis of economic growth by comparing labour ant total factor productivity (TFP …. During the last 25 years, productivity growth has also known contrasted developments in the four countries, in particular as … been characterised by: (i) rapid economic growth and large productivity gains in the four countries; (ii) a decline in …
Persistent link: https://www.econbiz.de/10009541118
countries. On the other hand, analysts ask whether there is a productivity gap — whether Canada is equally efficient in … investigate the size of the output and productivity gaps between the two countries over the period from 1994 to 2002 and ask how …
Persistent link: https://www.econbiz.de/10014206730
-factor productivity (TFP) growth for U.S. states over 1980 to 2010. Our growth accounting exercise shows that the current literature … considerably lower in magnitude when compared to the earlier studies. Productivity growth effects associated with high school … education remain insignificant. Our empirical findings are further validated by the use of instrumental variable estimation to …
Persistent link: https://www.econbiz.de/10012948192
' intensive margins. Short-run changes in work intensity and the longer-term goal of restoring full potential productivity …
Persistent link: https://www.econbiz.de/10011412413
I propose a new decomposition of aggregate total factor productivity. I model productivity as an index of unmeasured … factors of production, and decompose the conditional factor demand for this index. With this model of productivity, changes in … the price of labor or capital cause substitution to or from productivity. I study whether such changes explain the …
Persistent link: https://www.econbiz.de/10012888982
, help provide answers to the latter question. A persisting productivity windfall associated with the build out of the …
Persistent link: https://www.econbiz.de/10014047773
Measuring and modeling financial volatility is the key to derivative pricing, asset allocation and risk management.The recent availability of high-frequency data allows for refined methods in this field.In particular, more precise measures for the daily or lower frequency volatility can be...
Persistent link: https://www.econbiz.de/10003727640
We adopt an unobserved components time series model to extract financial cycles for the United States and the five largest euro area countries over the period 1970 to 2014. We find that credit, the credit-to-GDP ratio and house prices have medium-term cycles which share a few common statistical...
Persistent link: https://www.econbiz.de/10012994016