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In the past decade, inflation in Australia and most other industrialised countries has been extremely well behaved. An important question is whether this reflects a series of favourable shocks to prices or a more fundamental change in the inflation process. In this paper, we explore developments...
Persistent link: https://www.econbiz.de/10005398615
The human capital of a nation is highly correlated to its productivity. Thus, differences in human capital may be seen … as one factor determining the productivity gap between East and West Germany. However, a disadvantage of East Germany …
Persistent link: https://www.econbiz.de/10005398670
It is widely believed that international wage differences are a result of international productivity differences. That … productivities.” (Amin 1990, chapter 6) In the estimation of Prebisch, Singer, and Myrdal, “productivity increases that take place in … developed nations are passed on to their workers in the form of higher wages and income, while most or all of the productivity …
Persistent link: https://www.econbiz.de/10005399166
Persistent link: https://www.econbiz.de/10005399356
This paper analyzes the sources of U.S. labor productivity growth in the post-1995 period and presents projections for … both output and labor productivity growth for the next decade. Despite the recent downward revisions to U.S. GDP and … software investment, we show that information technology (IT) played a substantial role in the U.S. productivity revival. We …
Persistent link: https://www.econbiz.de/10005399475
New Keynesian macroeconomic models have generally emphasized that expectations of future output are a key factor in determining current output. The theoretical motivation for such forward-looking behavior relies on a straightforward generalization of the well-known Euler equation for...
Persistent link: https://www.econbiz.de/10005401530
technologies is associated with higher productivity and higher productivity growth. As in the worker literature, firms adopting … productivity, or other measures of firm success. I am able to control for many firm characteristics not available in other data …
Persistent link: https://www.econbiz.de/10005401539
-2000 period. An aggregate TFP measure based on these series appears quite similar to the multifactor productivity measure … constructed by the BLS. We find statistical evidence of structural breaks in the growth rate of our productivity measures in 1973 … and 1995. The first of these breaks appears to be due to an economy-wide productivity slowdown, while the second is …
Persistent link: https://www.econbiz.de/10005401561
This paper describes an attempt to build a regression-based system of labor productivity equations that incorporate the ….S. economy. Builders of regression-based forecasting models have long had difficulty finding labor productivity equations that … productivity. Theory dictates that this causation is driven by the effect of traditional capital deepening as well as technological …
Persistent link: https://www.econbiz.de/10005401573
-normally distributed idiosyncratic productivity uncertainty and Leontief utilization choice yields an aggregate production function that is … about the productivity of an investment project typically reduces investment at the micro level, but it raises aggregate … hours and a medium-term expansion in the growth rate of labor productivity. …
Persistent link: https://www.econbiz.de/10005401579