This paper builds an unobserved components model that combines a multivariate filter approach with a Cobb-Douglas production function. This combination allows potential output estimates to incorporate more economic structure than the traditional production function approach, while retaining the...

This paper uses cross-country micro-aggregated data on rm dynamics and productivity from the ECB CompNet database to provide empirical evidence on factor reallocation in the EU. The analysis finds that reallocation is towards more productive firms although the magnitude varies across countries...

What determines firm growth over the life-cycle? Exploiting unique firm panel data on internal organization, balance sheets and innovation, representative of the entire Canadian economy, we study recent theories that examine life-cycle patterns for firm growth. These theories include...

The robust performance of U.S. labor productivity (LP) early in the recovery from the Great Recession contrasts markedly with the sluggish growth of output, and even more with the lack of recovery in employment. This pattern has renewed interest in understanding why productivity has become much...

This paper deals with the impact of poor business environment on Total Factor Productivity (TFP), output and investment of manufacturing firms in Senegal. A benchmark study coupled with results from the World Bank Enterprise Survey narrowed down the list of relevant constraints to doing business...

The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...

This article studies the behavior of input cost shares in an environment where labor is costly to adjust, materials can be adjusted at no cost and capital is fixed. A model relating cost shares with relative prices and adjustment costs is proposed, allowing joint estimation of the elasticity of...

In der modernen Konjunkturtheorie sind Konjunkturzyklen als Schwankungen des Auslastungsgrades des gesamtwirtschaftlichen Produktionspotentials definiert. Das ifo Institut veröffentlicht im Rahmen des ifo Konjunkturtests originäre vierteljährliche Daten über die Kapazitätsauslastung im...

This paper provides new evidence that estimates based on aggregate data will understate the true procyclicality of total factor productivity. I examine plant-level data and show that some industries experience countercyclical reallocations of output shares among firms at different points in the...

Shifts in the long-run rate of productivity growth--such as those those experienced by the U.S. economy in the 1970s and 1990s--are difficult in real time to distinguish from transitory fluctuations. In this paper, we explore how economists' projections of trend productivity growth gradually...