This paper analyses employment dynamics across firms during the COVID-19 pandemic and the role of job retention schemes (JRS) in shaping these dynamics. It relies on a novel collection of high-frequency harmonised micro-aggregated statistics, computed using administrative data on employment and...

The increase in institutional ownership, the shift towards passive portfolio management and the rise of common ownership have transformed OECD countries financial markets in the last decades. The paper investigates the potential consequences of these transformations on firm's productivity, using...

Intangible assets are an important driver of productivity and ultimately output growth. Yet, despite their aggregate rise in the past decades, productivity has continued to grow modestly in the majority of OECD countries. This is in part because many firms – particularly young and small ones -...

The paper analyses the role of loan guarantee programmes following the COVID-19 outbreak in alleviating firm distress as well as their broader impacts on productivity via reallocation, relying on a simulation model and econometric estimations. The simulation exercise relies on a simple cash-flow...

Soaring energy prices have raised concerns about the risks energy price shocks pose for firms’ performance and the green transition. This paper estimates the impacts of energy price changes on firms’ productivity as well as their dynamics, distinguishing between the short and medium-to-long...

Despite the ambitious carbon reduction targets set by policy makers worldwide, current investments fall well short of the net-zero emissions scenario. This paper analyses the factors holding back corporate green investment, with a particular focus on the role of firm capacity – specifically...

La création d’emplois a contribué à faire reculer le chômage, mais le marché du travail belge demeure confronté à de nombreux défis. Les taux d’emploi restent bas en raison d’obstacles tels que le faible niveau des compétences et le manque d’incitations au travail. En outre, les...

Danish productivity has grown only weakly over the past two decades, both historically and in relation to other countries, despite sound policies and institutions. At the same time, the country has lost export market shares. Denmark needs to continue its efforts to reap the benefits of...

Ireland is recovering from an extremely large banking crisis born of over-exuberant property lending. The government has taken a wide range of measures to tackle the crisis over the past 3 years. Larger bad property loans have been transferred to a government controlled “bad bank”, NAMA, and...