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There is now substantial evidence that New Zealand’s overall rate of economic growth relative to Australia’s has been … intensity in New Zealand has not been increasing as fast as in Australia for nearly 25 years. Between 1995 and 2002, lower … capital has been rising in Australia, it has fallen by 20 percent in New Zealand between 1987 and 2002. The relative price of …
Persistent link: https://www.econbiz.de/10005176910
another important aspect of the pandemic: its fallout on medium-term potential output through scarring. Taking Australia and …
Persistent link: https://www.econbiz.de/10013250089
for Australia. We exploit a novel dataset merging international microdata from OECD-Orbis with Australian microdata from … and competitive pressures can improve Australia's productivity performance, by increasing incentives for firms to adopt …
Persistent link: https://www.econbiz.de/10013163008
inputs away from less productive firms and towards more productive firms, but little is known about this process in Australia …. Accordingly, this paper exploits firm-level data to explore the nature of productivity-enhancing labour reallocation in Australia … aggregate level of productivity in Australia. Moreover, we show that the Australian economy is more successful at reallocating …
Persistent link: https://www.econbiz.de/10012138128
Productivity growth is a key determinant of improvements in living standards in the long run. However, analysis of productivity trends at the aggregate level does not capture the variation of firm and sub-industry productivity performance that underlies industry or aggregate productivity. By...
Persistent link: https://www.econbiz.de/10012126590
The 2008 Great Recession was notable in the UK for three things: the enormity of the output shock; the muted unemployment response; and the very slow rate of recovery. We review the literature which finds most of the decline in productivity is within sector and within firm before presenting new...
Persistent link: https://www.econbiz.de/10011288222
Combining micro and macro data, we construct demand-side shocks, which we take to be exogenous for individual firms. We estimate a reduced-form model to describe how firms adjust their production, employment, capital stock, and inventories in response to such shocks. Then, we chose the...
Persistent link: https://www.econbiz.de/10012013517
New estimates of an aggregate long-term production function for the post-war U.S. economy are reported. The results indicate that this long-term aggregate production function exhibits a slight but statistically significant increasing returns to scale. Since virtually all econometric growth...
Persistent link: https://www.econbiz.de/10012140508
This paper empirically tests the hypothesis that landed elites may block technological change and economic development if they fear that they will lose future political power (Acemoglu and Robinson (2002, 2006, and 2012). It exploits a plausible exogenous change in the distribution of political...
Persistent link: https://www.econbiz.de/10011917048
What role does labor play in firms? market value? We explore this question using a production-based asset pricing model with frictions in the adjustment of both capital and labor. We posit that hiring of labor is akin to investment in capital and that the two interact, with the interaction being...
Persistent link: https://www.econbiz.de/10010261658