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Economic growth requires factor reallocation across firms and continuous replacement of technologies. Labor market institutions influence economic dynamism by their impact on the supply of a key factor, skilled workers to new and expanding firms, and the shedding of workers from declining and...
Persistent link: https://www.econbiz.de/10011416306
Proponents of minimum wage increases have argued that such hikes can serve as an engine of economic growth and assist low-skilled individuals during downturns in the business cycle. However, a review of the literature provides little empirical support for these claims. Minimum wage increases...
Persistent link: https://www.econbiz.de/10011434456
Economic growth requires factor reallocation across firms and continuous replacement of technologies. Labor market institutions influence economic dynamism by their impact on the supply of a key factor, skilled workers to new and expanding firms, and the shedding of workers from declining and...
Persistent link: https://www.econbiz.de/10012139466
Since the industrial revolution, technological innovations have enabled rise in productivity, employment, standard of … living and the tota l population several times. In the last 15 years productivity growth ha s slowed-down in the most of … expected to trigge r a slight acceleration in productivity, while explosive growth i n productivity, as predicted by some th …
Persistent link: https://www.econbiz.de/10012522848
the medium term through "creative destruction" as entrepreneurs strive for increased productivity. …
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