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As the pace of digitalization and automation accelerates globally, and more disruptive innovations in machine learning, artificial intelligence and robotics are expected, new data sources and measurement tools are needed to complement existing valuable statistics and administrative data. This is...
Persistent link: https://www.econbiz.de/10011908122
Persistent link: https://www.econbiz.de/10011875758
This paper contributes to the literature on secular stagnation by estimating a measure of potential output growth for the post-war US economy derived from a novel model specification that allows for the cyclical interactions between income distribution, represented by the trajectory of the labor...
Persistent link: https://www.econbiz.de/10012007772
Housing prices diverge from construction prices after 1997 in four major countries. Besides, TFP differences between construction and the general economy account for the evolution of construction prices in the U.S. and Germany, but not in the U.K. and Spain
Persistent link: https://www.econbiz.de/10013117819
physical, natural and human capital per worker (ii) changes in factor shares have an important effect on the growth rates of …
Persistent link: https://www.econbiz.de/10013013322
Structural economists like Colin Clark, Fisher, Kuznets, etc. have empirically demonstrated that growth is brought about by changes in structural composition. Indian economy is also experiencing major changes in its structure in recent decades. The theory of structural transformation has given...
Persistent link: https://www.econbiz.de/10013063337
Rebalancing growth in favor of domestic consumption has been an objective of Chinese policy makers for over two decades. However, until recently little progress has been achieved. This article argues that the nature of the demand regime is a major reason for the limited rebalancing operated thus...
Persistent link: https://www.econbiz.de/10013229296
The literature on unemployment has mostly focused on labor market issues while the impact of capital formation is … largely neglected. Job-creation is often thought to be a matter of encouraging more employment on a given capital stock. In … contrast, this paper explicitly deals with the long-run consequences of institutional shocks on capital formation and …
Persistent link: https://www.econbiz.de/10010495336
This paper establishes some stylized facts of the long run relationship between growth and labor shares using historical data for the United States (1898-2010), the United Kingdom (1856-2010), and France (1896-2010). Performing individual country time-frequency analysis, we demonstrate the...
Persistent link: https://www.econbiz.de/10012889951
This paper establishes some stylized facts of the long run relationship between growth and labor shares using historical data for the United States (1898-2010), the United Kingdom (1856-2010), and France (1896-2010). Performing individual country time-frequency analysis, we demonstrate the...
Persistent link: https://www.econbiz.de/10011987146