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This paper takes stock of the global economic recovery a decade after the 2008 financial crisis. Output losses after the crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007-08. Sluggish investment was a key channel through which these losses...
Persistent link: https://www.econbiz.de/10012869286
This paper seeks to illuminate the uncertainty in official GDP per capita measuresusing auxiliary data. Using satellite-recorded nighttime lights as an additional measurementof true GDP per capita, we provide a statistical framework, in which the error inofficial GDP per capita may depend on the...
Persistent link: https://www.econbiz.de/10012869295
's objectives. By creating the conditions for a healthy experimentalism and regulatory competition among the regulating bodies of …
Persistent link: https://www.econbiz.de/10014193870
A recent explanation for declining GDP growth is that R&D has gotten harder. The formal explanation in Jones (1995) is “fishing out”-- idea discovery decreases in the level of knowledge. If valid, long-run growth is exogenous. In follow-on empirical work, Bloom, Jones, Van Reenen and Webb...
Persistent link: https://www.econbiz.de/10012824731
substitution (CES) production function. By example of the U.S., we highlight the distinctive heterogeneity in empirical estimates … of production functions, especially the CES production function. Second, we outline the construction of an aggregate …
Persistent link: https://www.econbiz.de/10012850069
Governments in advanced and developing economies allocate capital subsidies to firms in a discretionary fashion through industrial policy or state aid. Do such discretionary policies mitigate or exacerbate the misallocation of resources across firms? This paper analyzes a typical EU policy using...
Persistent link: https://www.econbiz.de/10012846896
environmental production efficiency rankings of these nations? Secondly, is there a relationship between a nation's ratification … status and its environmental production efficiency ranking? We use the Data Envelopment Analysis (DEA) to compare the … Kyoto Protocol are more likely to be environmentally production efficient as compared to the nations that have not ratified …
Persistent link: https://www.econbiz.de/10014047375
inventories exhibit characteristics similar to the real series: volatile prices, asymmetric adjustment of production to price …
Persistent link: https://www.econbiz.de/10014178075
We study the effects of competition on loan rates and portfolio-at-risk in microcredit markets using a new database …
Persistent link: https://www.econbiz.de/10009491676
competition in which variable markups increasing in firm size are a key source of misallocation across firms and countries. We use … production costs), and worse geography (in terms of more remoteness from other countries). We show that, in a global welfare …
Persistent link: https://www.econbiz.de/10012890733