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The anatomy of emergence, with a focus upon capital formation

Harper, David A.; Endres, Anthony M. - In: Journal of Economic Behavior & Organization 82 (2012) 2, pp. 352-367

Emergence is a unifying theme of both evolutionary economics and complex systems theory. In spite of this centrality, emergence in economics has not been subject to an extensive critical analysis. This paper remedies this deficit. We identify several conditions that economic patterns (i.e....

Persistent link: https://www.econbiz.de/10011048163

The role of relative price volatility in the efficiency of investment allocation

Cavallo, Eduardo; Galindo, Arturo; Izquierdo, Alejandro; … - In: Journal of International Money and Finance 33 (2013) C, pp. 1-18

This paper estimates the impact of relative price volatility on sector-level investment allocation using a panel of 65 countries with data for 26 manufacturing industries over the period 1985–2003. Results indicate that volatility distorts efficient investment allocation in that investment is...

Persistent link: https://www.econbiz.de/10011048471

Capital Reallocation and Aggregate Productivity

Cooper, Russell W.; Schott, Immo - National Bureau of Economic Research (NBER) - 2013

This paper studies the productivity implications of the cyclical reallocation of capital. Frictions in the reallocation process are a source of factor misallocation. Cyclical movements in these frictions lead to variations in the degree of reallocation and thus in productivity. These frictions...

Persistent link: https://www.econbiz.de/10011124366

Modelling the service sector

King, Philip; Millard, Stephen - London School of Economics (LSE) - 2014

In the wake of the financial crisis output fell dramatically while inflation remained above its target and productivity collapsed relative to its previous trend. The fall in productivity relative to trend was particularly pronounced within the service sector, and then most particularly in...

Persistent link: https://www.econbiz.de/10011126118

Information technology, organisational change and productivity growth: evidence from UK firms

Crespi, Gustavo; Criscuolo, Chiara; Haskel, Jonathan - London School of Economics (LSE) - 2007

We examine the relationships between productivity growth, IT investment and organisational change (∆O) using UK firm data. Consistent with the small number of other micro studies we find (a) IT appears to have high returns in a growth accounting sense when ∆O is omitted; when ∆O is included...

Persistent link: https://www.econbiz.de/10011071253

What Explains the Canada-U.S. Software Investment Intensity Gap?

Sharpe, Andrew - Center for the Study of Living Standards (CSLS) - 2014

In 2012, business sector software investment per worker in Canada was 40.7 per cent of that in the United States. The objective of this report is to deepen our understanding of the reasons for which Canadian businesses invest substantially less in software than their U.S. counterparts. The...

Persistent link: https://www.econbiz.de/10011165236

Productividad, intangibles y nuevas tecnologías en España

Mas, Matilde; Quesada, Javier; Guevara, Juan Fernández de - In: EKONOMIAZ 86 (2014) 02, pp. 172-191

This paper analyzes the impact of intangible assets in labor productivity growth in Spain over the period 1995-2007 using a new database that contains the breakdown of 24 industries of 11 intangible assets. Growth accounting and econometric estimates of expanded production function are used to...

Persistent link: https://www.econbiz.de/10011096885

Problems with the Measurement of Banking Services in a National Accounting Framework

Diewert, Erwin; Fixler, Dennis; Zieschang, Kimberly - Vancouver School of Economics - 2012

The paper considers some of the problems associated with the indirectly measured components of financial service outputs in the System of National Accounts (SNA), termed FISIM (Financial Intermediation Services Indirectly Measured). The paper utilizes a user cost and supplier benefit approach to...

Persistent link: https://www.econbiz.de/10011184337

Getting Rental Prices Right for Computers

Diewert, Walter Erwin - Vancouver School of Economics - 2014

National statistical agencies frequently assume very high geometric depreciation rates in order to capture the fact … over its useful life is roughly constant, which contradicts the geometric model of depreciation where the service flow … falls at a constant rate forever. Thus a one hoss shay or light bulb model of depreciation seems to be more appropriate for …

Persistent link: https://www.econbiz.de/10011184340

A Canadian Business Sector Data Base and New Estimates of Canadian TFP Growth

Diewert, Erwin; Yu, Emily - Vancouver School of Economics - 2012

Using new data from Statistics Canada, the paper shows that the productivity performance of the business sector of the Canadian economy has been reasonably satisfactory over the past 51 years. In particular, traditional gross income Total Factor Productivity (TFP) growth averaged 1.026...

Persistent link: https://www.econbiz.de/10011184341