contribution of total factor productivity (TFP) to growth is largely responsible for the slowdown in trend growth in many SMICs …, which highlights the need for policy actions to reinvigorate productivity growth. This paper explores the question of what … kind of structural policies could boost productivity growth in SMICs and the political economy factors that may be …

the next five years. The reasons behind this slowdown differ across the region. Lower productivity growth drives the … productivity growth is key to unlocking the region’s higher growth potential. For oil importers, raising physical capital …

in total factor productivity (TFP), remains the main driver of GDP growth. Moving forward, given the expected moderation …

U.S. inflation surged in 2021-22 and has since declined, driven largely by a sharp drop in goods inflation, though … services inflation remains elevated. This paper zooms into services inflation, using proprietary microdata on wages to examine … that the effects of tight labor markets are persistent and may influence the pace of progression toward the inflation …

productivity and monetary policy. We identify a condition under which these asset prices become more volatile without affecting the … to productivity shocks. The model we set up does well at matching second moments of exchange rate and equity returns for …

growth suggests Balassa-Samuelson factors at play. However, after 1990, the tradable-nontradable labor productivity gap, the …

productivity growth in the tradable goods sector in Australia, New Zealand, and their major trading partners accounts for a …

The study looks at the cyclical behavior of the markups and assesses its impact on inflation dynamics. The analysis … countercyclical manner, with a short-term positive impact on inflation. This implies that the countercyclical pattern of the markups … is one factor among others that contribute to the relatively weak output gap-inflation co-movement. In the context of …