The trend of economic growth in Colombia shifted from acceleration (since the 30's to the 60's) to deceleration (from the 70's to the 90's). This reversal of the Colombian economic dynamics is related to the tendency reduction of productivity gains. To obtain this result it is proposed that the...

La tendencia del crecimiento económico colombiano pasó de la aceleración (años 1930 a 1960) a la desaceleración (años 1970 a 1990). Esta reversión de la dinámica económica colombiana se relaciona con la disminución tendencial de las ganancias en productividad. Para obtener este...

We document that mean earnings of managers grow faster than for non managers over the life cycle for a group of high-income countries. Furthermore, we find that the growth of earnings for managers (relative to non managers) is positively correlated with output per worker across these countries....

We document that for a group of high-income countries (i) mean earnings of managers tend to grow faster than for non managers over the life cycle; (ii) the earnings growth of managers relative to non managers over the life cycle is positively correlated with output per worker. We interpret this...

The EU candidate and potential candidate countries have made considerable progress in economic transition and integration into the world economy within less than two decades. Nevertheless, gaps in terms of income per capita relative to the euro area remain large. This suggests that the...

This study investigates the relationship between economic growth and democracy by estimating a nation’s production function specified as static and dynamic models using panel data. In estimating the production function, it applies a single time trend, multiple time trends and the general index...

Structural policies in the euro area are of great interest for the Eurosystem, particularly as they can support the smooth functioning of the Economic and Monetary Union (EMU) and the effectiveness of monetary policy. This paper adopts a broad definition of structural policies, analysing not...

All investments and asset classes have different levels of risks and expected returns. For example, low risk investments such as cash generally provide a lower return than high risk investments over the long term, but are unlikely to lead to a capital loss. High risk investments generally offer...

Österreich bietet einen hohen Lebensstandard, der sowohl in überdurchschnittlichen Pro-Kopf-Einkommen und einer im internationalen Vergleich niedrigen Arbeitslosenquote als auch einem geringeren Anteil armutsgefährdeter Personen zum Ausdruck kommt. Der erreichte materielle Wohlstand beruht...

In this paper, using a dynamic panel of 21 OECD countries, we find that, unlike the other OECD countries in the sample, wage setting institutions, competition conditions, public finances, and external imbalances can account for the behavior of the public sector wage premium (WPR) and the...