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Can General Purpose Technology Theory Explain Economic Growth? Electrical Power as a Case Study

Ristuccia, Cristiano Andrea; Solomou, Solomos - CESifo - 2014

Does the concept of General Purpose Technologies help explain periods of faster and slower productivity advance in … economies? The paper develops a new comparative data set on the usage of electricity in the manufacturing sectors of the USA …, Britain, France, Germany and Japan and proceeds to evaluate the hypothesis of a productivity bonus as postulated by many …

Persistent link: https://www.econbiz.de/10010748306

Getting People into Work: What (if Anything) Can Justify Mandatory Activation of Welfare Recipients?

Molander, Anders; Torsvik, Gaute - CESifo - 2013

So-called activation policies aiming at bringing jobless people into work have been a central component of welfare reforms across OECD countries during the last decades. Such policies combine restrictive and enabling programs, but their characteristic feature is that also enabling programs are...

Persistent link: https://www.econbiz.de/10010877660

How to Avoid a Pension Crisis: A Question of Intelligent System Design

Cigno, Alessandro - CESifo - 2009

Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...

Persistent link: https://www.econbiz.de/10005051548

Labor Demand During the Crisis: What Happened in Germany?

Bohachova, Olga; Boockmann, Bernhard; Buch, Claudia M. - CESifo - 2011

In Germany, the employment response to the post-2007 crisis has been muted compared to other industrialized countries. Despite a large drop in output, employment has hardly changed. In this paper, we analyze the determinants of German firms’ labor demand during the crisis using a firm-level...

Persistent link: https://www.econbiz.de/10009367393

Labor Contracts, Equal Treatment and Wage-Unemployment Dynamics

Snell, Andy; Thomas, Jonathan - CESifo - 2006

clear the labour market. Using sectoral productivity data from the post-war US economy, we assess the ability of the model …

Persistent link: https://www.econbiz.de/10005405841

A Competitive Model of Worker Replacement and Wage Rigidity

Snell, Andy; Thomas, Jonathan; Wang, Zhewei - CESifo - 2014

We adapt the models of Menzio and Moen (2010) and Snell and Thomas (2010) to consider a labour market in which firms can commit to wage contracts but cannot commit not to replace incumbent workers. Workers are risk averse, so that there exists an incentive for firms to smooth wages. Real wages...

Persistent link: https://www.econbiz.de/10010737510

Industry Structure and Pricing over the Business Cycle

Spiegel, Yossi; Stahl, Konrad O. - CESifo - 2014

We consider the interaction between an incumbent firm and a potential entrant, and examine how this interaction is affected by demand fluctuations. Our model gives rise to procyclical entry, prices, and price-cost margins, although the average price in the market can be countercyclical if the...

Persistent link: https://www.econbiz.de/10010877829

Unemployment and Endogenous Reallocation over the Business Cycle

Carrillo-Tudela, Carlos; Visschers, Ludo - CESifo - 2013

This paper studies unemployed workers’ decisions to change occupations, and their impact on fluctuations in aggregate unemployment and its underlying duration distribution. We develop an analytically and computationally tractable stochastic equilibrium model with heterogenous labor markets. In...

Persistent link: https://www.econbiz.de/10010877858

The Economic Impact of Demographic Structure in OECD Countries

Aksoy, Yunus; Grasl, Tobias; Smith, Ron P. - CESifo - 2012

We examine the impact of demographic structure, the proportion of the population in each age group, on growth, savings, investment, hours, interest rates and inflation using a panel VAR estimated from data for 20 OECD economies, mainly for the period 1970-2007. This flexible dynamic structure...

Persistent link: https://www.econbiz.de/10010583636

When Arm's Length Is Too Far. Relationship Banking over the Business Cycle

Beck, Thorsten; Degryse, Hans; Haas, Ralph de; Horen, … - CESifo - 2014

Using a novel way to identify relationship and transaction banks, we study how banks’ lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms’ credit constraints at two...

Persistent link: https://www.econbiz.de/10010795340