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Unemployment Surges in the EU : The Role of Risk Premium Shocks

Bakker, Bas B. - 2019

, focuses onthe impact on supply. We show that risk premium shocks reduce the output level thatmaximizes profit. They also lead … to unemployment surges, as firms are forced to cutcosts when financing becomes expensive or is no longer available. As a … result, allcountries with risk premium shocks saw unemployment surge, even as euro area corecountries managed to contain …

Persistent link: https://www.econbiz.de/10012889134

Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries : The Case of Cameroon

Samaké, Issouf - 2014

This paper assesses the implications of the use of oil revenue for public investment on growth and fiscal sustainability in Cameroon. We develop a dynamic stochastic general equilibrium model to analyze the effects of such investment on growth and on the path of key fiscal indicators, such as...

Persistent link: https://www.econbiz.de/10013063606

How Accurate are Private Sector Forecasts? Cross-Country Evidence from Consensus Forecasts of Output Growth

2021

This paper evaluates the performance of Consensus Forecasts of GDP growth for industrialized and developing countries from 1989 to 1998. The questions addressed are (1) How do forecast errors differ across industrialized and developing countries? (2) How well do forecasters predict recessions?...

Persistent link: https://www.econbiz.de/10013212035

The Lack of Convergence of Latin-America Compared with Cesee : Is Low Investment to Blame?

Bakker, Bas B. - 2020

capital-output ratio. Cross-country differences of TFP in turn are associated with differences in human capital, governance …

Persistent link: https://www.econbiz.de/10012828058

Assessing the Impact of Structural Reforms Through a Supply-Side Framework : The Case of Argentina

Lusinyan, Lusine - 2018

The paper uses a supply-side framework based on a production function approach to assess the role of structural reforms in boosting long-term GDP growth in Argentina. The impact of product, labor, trade, and tax reforms on each supply-side channel-capital accumulation, labor utilization, and...

Persistent link: https://www.econbiz.de/10012912483

Fiscal Consolidation in the Euro Area : How Much Can Structural Reforms Ease the Pain?

Anderson, Derek - 2013

level of output back to its pre-consolidation path …

Persistent link: https://www.econbiz.de/10013073680

Resource Misallocation Among Listed Firms in China : The Evolving Role of State-Owned Enterprises

Jurzik, Emilia; Ruane, Cian - 2021

We document that publicly listed Chinese state-owned enterprises (SOEs) are less productive and profitable than publicly listed firms in which the state has no ownership stake. In particular, Chinese listed SOEs are more capital intensive and have a lower average product of capital than...

Persistent link: https://www.econbiz.de/10013226435

Productivity and Product Markets in Korea : Evidence from Advanced Economies

Swiston, Andrew J.; Tam, Stella - 2022

This paper constructs an industry-level dataset of productivity across advanced economies, showing that Korea’s labor productivity and total factor productivity levels are below the median of other advanced economies. We identify sizable industry-level productivity gaps in Korea with respect...

Persistent link: https://www.econbiz.de/10014236304

In the Eye of the Storm Firms and Capital Destruction in India

Pelli, Martino; Tschopp, Jeanne; Bezmaternykh, Natalia; … - 2021

This paper examines the response of firms to capital destruction, using a new measure of firmexposure to tropical storms as a negative exogenous shock on firms' capital stock. Drawing on apanel of Indian manufacturing firms between 1995 and 2006, we establish that, depending on theirstrength,...

Persistent link: https://www.econbiz.de/10013315091

What is the Impact of Increased Business Competition?

Feliz, Sonia - 2020

This paper studies the macroeconomic effect and underlying firm-level transmission channels of a reduction in business entry costs. We provide novel evidence on the response of firms' entry, exit, and employment decisions. To do so, we use as a natural experiment a reform in Portugal that...

Persistent link: https://www.econbiz.de/10012843501