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Americans do I.T. better: US multinationals and the productivity miracle

Bloom, Nick; Sadun, Raffaella; Van Reenen, John - London School of Economics (LSE) - 2007

The US has experienced a sustained increase in productivity growth since the mid-1990s, particularly in sectors that … intensively use information technologies (IT). This has not occurred in Europe. If the US “productivity miracle” is due to a … abroad. This paper shows in fact that US multinationals operating in the UK do have higher productivity than non …

Persistent link: https://www.econbiz.de/10011071454

Investment choice and inflation uncertainty

Fischer, Gregory - London School of Economics (LSE) - 2013

aggregates. The data show that periods of increased inflation uncertainty are associated with substantial reductions in total …

Persistent link: https://www.econbiz.de/10010884740

Nominal wage rigidity and the rate of inflation

Nickell, Stephen; Quintini, Glenda - London School of Economics (LSE) - 2001

inflation is low. Despite the substantial numbers of individuals whose nominal wages fall from one year to the next, we find … that if long-run inflation is one percent higher, the number of individuals with negative real pay growth increases by …

Persistent link: https://www.econbiz.de/10010746590

Do financial crises erode potential output? evidence from OECD inflation responses

Bijapur, Mohan - London School of Economics (LSE) - 2012

This paper presents evidence from a panel investigation of OECD countries that inflationary pressures tend to be stronger during recovery from financial crises compared to recovery from non-crisis economic downturns, indicating impairment in productive potential.

Persistent link: https://www.econbiz.de/10011126125

Are credit crunches supply or demand shocks?

Bijapur, Mohan - London School of Economics (LSE) - 2013

inflation to rise in the short term. Our results also suggest that the effects on aggregate supply have grown stronger in recent …

Persistent link: https://www.econbiz.de/10011126591

Productivity growth and employment: theory and panel estimates

Pissarides, Christopher; Vallanti, Giovanna - London School of Economics (LSE) - 2004

Theoretical predictions of the effect of TFP growth on employment are ambiguous, and depend on the extent to which new technology is embodied in new jobs. We estimate a model for employment, wages and investment with an annual panel for the United States, Japan and Europe and find that TFP...

Persistent link: https://www.econbiz.de/10010928604

Structural models of the wage curve estimated by panel data and cross-section regressions

Gerba, Eddie; Pikoulakis, Emmanuel V.; Wisniewski, … - London School of Economics (LSE) - 2014

Introducing equilibrium unemployment to the solution of the intertemporal allocation of non-leisure time, we derive two wage-setting models which we estimate by panel data and cross-section regressions applied on aggregative data. The results support the empirical relation known as the...

Persistent link: https://www.econbiz.de/10011126124

Labor market institutions, wages and investment

Pischke, Jorn-Steffen - London School of Economics (LSE) - 2004

Labor market institutions, via their effect on the wage structure, affect the investment decisions of firms in labor markets with frictions. This observation helps explain rising wage inequality in the US, but a relatively stable wage structure in Europe in the 1980s. These different trends are...

Persistent link: https://www.econbiz.de/10010884716

Profit share and returns on capital stock in Italy: the role of privatisations behind the rise of the 1990s

Torrini, Roberto - London School of Economics (LSE) - 2005

began in the first half of the 1990s. They led to a rapid growth in total factor productivity and a deceleration in wages …

Persistent link: https://www.econbiz.de/10010745192

Labor and the market value of the firm

Merz, Monika; Yashiv, Eran - London School of Economics (LSE) - 2005

What role does labor play in a firm’s market value? We explore this question using a production-based asset pricing model with frictions in the adjustment of both capital and labor. We posit that hiring of labor is akin to investment in capital and that the two interact, with the interaction...

Persistent link: https://www.econbiz.de/10010745844