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economic and price level convergence, respectively, refer to the narrowing of the income (productivity) and the price level gap … helps us understand, why net real wages are relatively low in these countries (as compared to their relative level of income/productivity …
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We show that in a fully integrated economy, in which there is free mobility of goods and factors, each member’s share of total output will equal its shares of total stocks of productive factors (i.e., physical and human capital). We label this result the equal-share relationship. This...
Persistent link: https://www.econbiz.de/10011343242
In the last few decades there has been little convergence of income levels in Latin America with those in the United States, in sharp contrast with both emerging Asia and emerging Europe. This paper argues that lack of convergence was not the result of low investment. Latin America is poorer...
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This paper assesses the potential impact of the European Union Emissions Trading System (EU ETS) on firm productivity …. We estimate a stylized version of the neo-Schumpeterian model, which incorporates innovation and productivity catch-up as … two potential sources of firm’s productivity growth, while at the same time accounting for persistent productivity …
Persistent link: https://www.econbiz.de/10012507941
direct investment, imports of productivity-enhancing technology - are petering out, and are yet to be substituted. We propose …
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