Showing 1 - 10 of 70
We analyse how fiscal policy affects both the macroeconomy and the industry structure, using a multi-sector macroeconomic model of the Norwegian economy with an inflation targeting monetary policy. Our simulations show that the government spending multiplier in the case of a permanent...
Persistent link: https://www.econbiz.de/10013480205
Many OECD countries have experienced a slowdown in measured labour productivity from 2005 and onwards. Norway is no exception in this respect. Most countries use a simple aggregate of hours worked when measuring labour productivity. One way to improve measurement of labour services is to control...
Persistent link: https://www.econbiz.de/10011968588
We outline a novel procedure to identify the role of measurement errors in explaining the empirical dispersion in productivity across establishments. The starting point of our framework is the typical errors-in-variable model consisting of a measurement equation and a structural equation for the...
Persistent link: https://www.econbiz.de/10011968639
We examine how changes to regulations and the economic conditions have influenced gross immigration to Norway from, in principle, all countries in the world during 1969- 2010. In line with existing studies of immigration we find that economic factors were important for immigration to Norway....
Persistent link: https://www.econbiz.de/10011968457
In the Norwegian national accounts, as in many other countries, it is quite common to use information on depreciation rates and profiles based on studies from the US, Canada and the Netherlands due to a lack of national studies. We present new results based on a survey of Norwegian firms...
Persistent link: https://www.econbiz.de/10011968610
We study the role of R&D spillovers when modelling total factor productivity (TFP) by industry. Using Norwegian industry level data, we find that for many industries there are significant spillovers from both domestic sources and from technological change at the international frontier....
Persistent link: https://www.econbiz.de/10012801075
Simultaneity represents a fundamental problem when estimating the elasticity of substitution between capital and labour. To overcome this problem, a wide variety of external instruments has been applied in the literature. However, the use of instruments may lead to wrong inference if they are...
Persistent link: https://www.econbiz.de/10013480197
We bridge mathematical number theory with that of optimal control and show that a generalised Fibonacci sequence enters the control function of finite horizon dynamic optimisation problems with one state and one control variable. In particular, we show that the recursive expression describing...
Persistent link: https://www.econbiz.de/10011968444
The standard cost-of-living index hinges on the assumption that there is free trade. Applying it to situations where trade barriers are present yields biased results with respect to a true cost-of-living index. Import price indices are particularly vulnerable to this bias since many of the goods...
Persistent link: https://www.econbiz.de/10011968521
The empirical literature studying the sector bias of technical change has only focused on skill-biased technical change. In this paper, I analyse the sector bias of both factor-neutral and factor-biased technical change. In Norwegian data from 1972 to 2007 the empirical evidence is not clear on...
Persistent link: https://www.econbiz.de/10011968565