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While economic theory highlights the usefulness of flexible exchange rates in promoting adjustment in international relative prices, flexible exchange rates also can be a source of destabilizing shocks. We find that when countries joining the euro currency union abandoned their national exchange...
Persistent link: https://www.econbiz.de/10012456694
productivity residuals in the United States and Canada. Using data on 19 manufacturing industries, we study the behavior of … productivity using three proxies for capital services. We find that adjusting for cyclical movements in capital utilization alters … many of the empirical characteristics of productivity, both within and across countries …
Persistent link: https://www.econbiz.de/10012470243
This paper explains the divergent behavior of European and US unemployment rates using a job market matching model of the labor market with an interaction between shocks and institutions. It shows that a reduction in TFP growth rates, an increase in real interest rates, and an increase in tax...
Persistent link: https://www.econbiz.de/10012470255
wages and productivity across establishments. The second is that the increased dispersion in wages and productivity across … productivity dispersion have increased substantially over the last few decades, and (4) a substantial fraction of the rising … dispersion in wages and productivity is accounted for by increasing wage and productivity differentials across high and low …
Persistent link: https://www.econbiz.de/10012471311
We estimate the rate of total factor productivity growth in Indian manufacturing industry for the period 1973-1992, and … it ignores the additional capital formation made possible by an increase in productivity and therefore understates … productivity's true importance. Our estimates suggest that the understatement may be quite large, and that one might better ask if …
Persistent link: https://www.econbiz.de/10012471341
efficiency-based productivity growth rates to exceed observed productivity growth in the slowdown period of 1974 - 1995 …
Persistent link: https://www.econbiz.de/10012471934
job destruction rate serve to magnify the" effects of productivity shock on output, as well as making the effects much …
Persistent link: https://www.econbiz.de/10012472537
inefficient firms to exit. As a result, low cost entry and exit may help improve aggregate productivity by allowing for the rapid … the Taiwanese Census of Manufactures for 1981, 1986, and 1991, we measure differences in total factor productivity among … entering, exiting, and continuing firms, and quantify the contribution of firm turnover to industry productivity improvements …
Persistent link: https://www.econbiz.de/10012472577
The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined … relative productivity ratios, one finds a relationship for Japan, Malaysia, and the Philippines. Only when augmenting the … productivity variables, as well as other demand side factors, are less encouraging, except for a small subset of countries …
Persistent link: https://www.econbiz.de/10012472706
Using data for the G7 countries, I estimate conditional correlations of employment and productivity, based on a …) technology shocks appear to induce a negative comovement between productivity and employment, counterbalanced by a positive … positive technology shock, and (c) measured productivity increases temporarily in response to a positive demand shock. More …
Persistent link: https://www.econbiz.de/10012473117