productivity across sectors exhibits weak correlation. While previous work examined production complementarity, our analysis … production and a low marginal cost of replication, sectors can share the cost to forecast their sector-specific productivity …

manufacturing production. Labor market reform is modeled as a reduction in firing costs and/or unemployment benefits. We find that … business cycle conditions at the time of deregulation significantly affect adjustment. A reduction of firing costs entails …

shedding. We also find that after factor market deregulation in Colombia in 1991, factor adjustment hazards increased on the … would yield a substantial increase in aggregate productivity through improved allocative efficiency. Yet, the actual impact … of the Colombian deregulation on aggregate productivity through factor adjustment was modest …

The wave of crises that began in 2008 reheated the debate on market deregulation as a tool to improve economic … policy to reduce transition costs. Third, deregulation reduces static and dynamic inefficiencies, making price stability more … desirable. International synchronization of reforms can eliminate policy tradeoffs generated by asymmetric deregulation …

This paper analyzes the timing, pace and efficiency of the on- going job reallocation that results from product and …. Government incentives to production may alleviate high unemployment in this economy, but at the cost of exacerbating sclerosis … policies can restore economic efficiency …

In this paper we present a simple, theory-based measure of the variations in aggregate economic efficiency associated … those derived by Lucas (1987). It also suggests that the major postwar recessions involved substantial efficiency costs …

This paper shows how changes in the volatility of the real interest rate at which small open emerging economies borrow … motivate our investigation, we document the strong evidence of time-varying volatility in the real interest rates faced by a … sample of four emerging small open economies: Argentina, Ecuador, Venezuela, and Brazil. We postulate a stochastic volatility …

-aged individuals. Understanding the mechanism underlying this observation is key to explaining the volatility of aggregate hours over … cyclical characteristics of labor demand. To articulate this view, we consider a production technology displaying capital …

to have dealt with the volatility better. Why? This paper explores Australian terms of trade volatility since 1901. It … commodity exporters experiencing volatile prices? …