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This paper investigates in a non-linear setting the impact on the real economy of frictions stemming from the financial sector. We develop a medium scale DSGE model with a banking sector where an occasionally binding constraint on banks' capital induces a relevant non-linearity. The model -...
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This study explores the impact of export shocks on firms and re-aggregates results to derive distributional effects on sectors and regions. In a first step, firm level data are used to assess the empirical relationship between exports and three outcome variables – labour productivity,...
Persistent link: https://www.econbiz.de/10011914632
response of investment to continued demand weakness, leading in turn to a deterioration in potential output via a hysteresis … government investment as a share of GDP has further exacerbated post-crisis weakness in capital stock growth, both directly and … probably indirectly via adverse spillover effects on business investment. Finally, at a time when the use of conventional macro …
Persistent link: https://www.econbiz.de/10011577778
through the channel of higher capital intensity. Overall regional investment ratios appear weakly linked to regional … productivity, but the sectoral composition of regions and their type of investment are more important determinants. Each region has …. The type of investment matters: boosting research and development in the manufacturing sector in some lagging regions …
Persistent link: https://www.econbiz.de/10011823608
capital stock since the financial crisis can be explained by an accelerator response of investment to continued demand …. In many OECD countries, declining government investment as a share of GDP has further exacerbated post-crisis weakness in … capital stock growth, both directly and probably indirectly via adverse spillover effects on business investment. Finally …
Persistent link: https://www.econbiz.de/10011914168
This paper summarises earlier OECD work aimed at quantifying the impact of structural reforms on economic outcomes. It overviews: i.) insights obtained for the linear relationships linking policies and economic outcomes (including multi-factor productivity, capital deepening and employment) for...
Persistent link: https://www.econbiz.de/10011914246
This paper presents country-specific effects of structural reforms. It discusses how sizeable and interesting country-specific effects can be identified in a panel setting by conditioning the impact of individual policies on their own level or on the stance of other policies and institutions....
Persistent link: https://www.econbiz.de/10011914264
consequence of sustained low multi-factor productivity growth within industries, as well as weak investment. Economic geography is …, removing barriers to fixed capital investment (including taxation), accessing benefits from agglomeration by improving urban … planning and infrastructure provision, enhancing competition and increasing investment in innovation and intangibles. This …
Persistent link: https://www.econbiz.de/10011732737