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Labor productivity levels in Bulgaria lag well behind that in the EU, weighing on the convergence process. Stronger … productivity growth would allow Bulgaria to close the income gap with the EU average more quickly and to alleviate the structural … productivity suggest that for Bulgaria closing the gap with EU standards in the areas of institutional and infrastructure quality …
Persistent link: https://www.econbiz.de/10011242306
After a short-lived slowdown in the immediate aftermath of the global financial crisis and a swift rebound, emerging markets (EM) are now entering a period of slower growth. In fact, growth is now lower than the post-crisis peak of 2010-11, as well as the rates seen in the decade before the...
Persistent link: https://www.econbiz.de/10010878427
This Selected Issues paper attempts to analyze the end-point problem and improve the quality of potential GDP estimates for Germany. It projects that Germany’s potential GDP growth will slow over the coming decade, mainly because of declining labor input. The paper focuses on a long-term...
Persistent link: https://www.econbiz.de/10005825173
growth from total factor productivity has been minor, while the high population growth poses a significant challenge to …
Persistent link: https://www.econbiz.de/10005825438
measures differences in labor productivity (the Ricardian measure), and the other differences in total factor productivity (the …
Persistent link: https://www.econbiz.de/10005825862
indicate that declines in factor inputs and productivity were both important determinants of the output fall. The contribution … of the productivity drop was critical, but smaller than previously reported. Possible causes of the reduction in … productivity are assessed using data on sub-national regions within Russia. Privatization and entry of private firms are found to …
Persistent link: https://www.econbiz.de/10005826009
Emerging economies are characterized by higher consumption and real wage variability relative to output and a strongly countercyclical current account. A real business cycle model of a small open economy that embeds a Mortensen-Pissarides type of search-matching frictions and countercyclical...
Persistent link: https://www.econbiz.de/10011242182
This paper explains in detail the construction of series for productivity in the traded and nontraded sectors for a … panel of 56 countries spanning 1989–2012. The level of productivity in each sector is defined as real value added per … more disaggregated industry source data; and (ii) it allows for meaningful comparisons of the level of productivity across …
Persistent link: https://www.econbiz.de/10011242200
. Based on simulations in a general equilibrium model of the world economy, we find that a productivity slowdown in the non …
Persistent link: https://www.econbiz.de/10011242275
is explained more by a decline in productivity rather than a lack of investment. Second, tourism has been a significant … contributor to higher growth (through both capital accumulation and productivity) and lower output volatility, and in many … are islands have limited growth. Policies aimed at improving productivity, further development of the tourism sector, and …
Persistent link: https://www.econbiz.de/10011242282