This paper describes a number of alternative medium-term scenarios for the OECD economies and related policy stimulations using the OECD world model INTERLINK. The starting point of the analysis is a reference scenario to 2000 featuring a general recovery of the OECD economies to steady state...

The paper studies consensus estimates of Asian productivity growth from 1980 to 2000. We outline methods that have been proposed to measure productivity growth and its two main factors, innovation and catch-up. We show how such methods have particular canonical representations that seamlessly...

Unit specific effects are often used to estimate non-spatial efficiency. We extend such estimators to the case where there is spatial autoregressive dependence and introduce the concept of spillover efficiency. Intuitively, we present an approach to benchmark how successful units are at...

“The quiet life hypothesis” (QLH) by Hicks (1935) argues that, due to management’s subjective cost of reaching optimal profits, firms use their market power to allow inefficient allocation of resources. Increasing competitive pressure is therefore likely to force management to work harder...