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We investigate convergence in European price level, unit labor cost, income, and productivity data over the period of … of those clubs. Total factor productivity data indicate the existence of a small club including fast-growing countries …
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below trend - and total factor productivity (TFP), using a panel of 71 developed and developing countries during the period … severe, and additionally quantifies the welfare cost associated with output collapses. -- Growth ; recessions ; productivity …
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surprisingly, total factor productivity appears to recover rapidly after all recessions …
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This paper seeks to identify the largest two shocks that can explain the movement in Canadian GDP for the period 1981Q1 to 2011Q4. I employ a very flexible identification method proposed by Uhlig (2003) that allows us to identify the key shocks from the time series data without imposing any...
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