This paper proposes an equilibrium theory of the organization of work in an economy with an implicit market for productive time. In this economy, agents have limited productive time and can choose to produce in autarky, buy productive time from helpers to increase own production or, sell their...

In this paper we explore the impact of imperfectly competitive input markets on production function estimation. First order profit maximizing conditions are altered when frictions in input markets cause the elasticity of input supply to the firm to be finite. A consequence of this is that the...

One account of spatial concentration focuses on productivity advantages arising from market size. We investigate this for 40 regions of Japan. Our results identify important effects of a region’s own size, as well as cost linkages between producers and suppliers of inputs. Productivity links...

The COVID-19 pandemic instigated a big shift in working arrangements. I first describe the scale of this shift in the United States, drawing on the Survey of Working Arrangements and Attitudes and other sources. I then review differences, circa 2023, in work-from-home rates across industries,...

This paper examines whether machine learning (ML) algorithms can outperform a linear model in predicting monthly growth in Canada of both house prices and existing home sales. The aim is to apply two widely used ML techniques (support vector regression and multilayer perceptron) in economic...

What are the implications of digitalization for prices? This paper explores this question by looking at the various channels through which digitalization can affect prices. First, we assess the importance of the direct channel - the prices of digital goods and services in the consumer price...

This paper compares the main findings from the fourth wave of the Household Finance and Consumption Survey (HFCS) for Malta with those for the euro area. This comparative report finds that in 2020 the median Maltese household held more real and financial assets than households in the euro area....

Using a new administrative dataset, we provide fresh micro-level evidence on firms' returns to scale (RTS). We employ a new administrative database, iBACH, which contains extensive high-quality annual balance sheet, financial, and demographic information on more than two million non-financial...

Any serious empirical study of factor substitutability has to allow the data to display complementarity as well as substitutability. The standard approach reflecting this idea is a translog specification – this is also the approach used by numerous studies analyzing the relative capital-skill...

Dieser Beitrag wägt Vorteile und Nachteile verschiedener Flexibilisierungsstrategien ab, die der Stabilisierung des Beschäftigungsniveaus dienen. Insgesamt zeigt sich, daß Arbeitszeitflexibilisierung durch Arbeitszeitkonten alternativen - kurzfristig ausgerichteten - Anpassungsmechanismen aus...