Showing 11 - 20 of 85
Per capita output is more volatile in middle-income economies than in both low-income and high-income economies. We examine this pattern in a two-period overlapping generations model with two productive sectors (a developed sector and a subsistence sector) and a credit sector. In the early and...
Persistent link: https://www.econbiz.de/10014400770
A bivariate vector-autoregression (VAR) model is used to test causal relations between the current account and the capital account in four emerging market economies. The results show that high capital mobility could be a major cause of current account instability. Therefore, macroeconomic policy...
Persistent link: https://www.econbiz.de/10014403375
Persistent link: https://www.econbiz.de/10001562964
Persistent link: https://www.econbiz.de/10001718211
Persistent link: https://www.econbiz.de/10012882231
Persistent link: https://www.econbiz.de/10009553109
Does the extent of competitive pressure industries face influence their productivity? We study a natural experiment conducted in the iron ore industry as a result of the collapse in world steel production in the early 1980s. For iron ore producers, whose only market is the steel industry, this...
Persistent link: https://www.econbiz.de/10005491090
In this paper, we build and structurally estimate a complete information bargaining model of collective negotiation for Spain. For large firms, the assumption of complete information seems a sensible one, and it matches the collective bargaining environment better than the one provided by...
Persistent link: https://www.econbiz.de/10010884535
In this paper we use data from industrial plants to investigate if seniority-based pay is used as a motivational device for production workers. Alternatively, seniority-based pay could simply be a wage setting rule not necessarily related to the provision of incentives. Unlike previous papers,...
Persistent link: https://www.econbiz.de/10010851485
We describe a dynamic macroeconomic model that incorporates firm-level borrowing constraints, competitive CES loan production, and rigidities on both setting prices and wages. The external finance premium (interest-rate spread) is countercyclical with technology and financial shocks, and...
Persistent link: https://www.econbiz.de/10010904644