extent due to huge decline in exports and production of one industry, ICT. The contribution of ICT (or electronics and … electro-technical industry) to GDP decline was close to two percentage points. The reduction of the industry's value added … industry (more than half of the value added), and the decline of profits is mainly due to Nokia. Since 80-90 per cent of Nokia …

productivity catching-up, both at the macroeconomic level and in the manufacturing industry in particular. Yet in most NMS the … growth of labour productivity went hand in hand with declining employment, and even with considerable job losses in the … resulted overwhelmingly from across-the-board productivity improvements in individual sectors of the economy while employment …

investment and employment. …

's model for the productivity regime is calibrated on - OECD data. The trajectory for employment predicted by the combination …-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with - and Baumol … of the two models tracks the actual employment dynamics in the OECD over the period 1970-2010 remarkably well. …