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Are predictable improvements in TFP contractionary or expansionary: Implications from sectoral TFP?
Nam, Deokwoo; Wang, Jian - In: Economics Letters 124 (2014) 2, pp. 171-175
We investigate the effects of predictable changes in TFP at the sectoral level. Our findings can reconcile the seemingly contradictory findings in the literature. Shocks to predictable changes in investment-sector TFP are also found important for US business cycle fluctuations.
Persistent link: https://www.econbiz.de/10010933307
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After the Crisis; Assessing the Damage in Italy
Sgherri, Silvia; Morsy, Hanan - International Monetary Fund (IMF) - 2010
Italy’s deep-rooted structural problems resulted in an unsatisfactory productivity performance and a dismal growth … decline in output is mainly accounted for by a collapse in productivity; in the medium term, employment and capital are also …
Persistent link: https://www.econbiz.de/10008727814
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Economic Integration, Business Cycle, and Productivity in North America
Kose, M. Ayhan; Cardarelli, Roberto - International Monetary Fund (IMF) - 2004
productivity in Canada. The North American Free Trade Agreement (NAFTA) and its predecessor, the Canada-U.S. Free Trade Agreement … productivity of Canadian industries, the persistence of structural differences between the two countries has prevented convergence … of aggregate labor productivity. While these findings seem to weigh against moving toward a monetary union, they also …
Persistent link: https://www.econbiz.de/10005769318
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Commodity Price Volatility and the Sources of Growth
International Monetary Fund (IMF); International … - 2012
as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital … (CPMG) methodology of Pesaran et al. (1999) for estimation. The latter takes account of cross-country heterogeneity and …
Persistent link: https://www.econbiz.de/10009650613
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Investment; Specific Technology Shocks and International Business Cycles: An Empirical Assessment
International Monetary Fund (IMF); International … - 2010
In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international real business cycle model and show that a thoughtful calibration of them along the lines of Raffo (2009) successfully addresses the "quantity", "international comovement",...
Persistent link: https://www.econbiz.de/10008671290
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Factor Endowment, Structural Coherence, and Economic Growth
Che, Natasha Xingyuan - International Monetary Fund (IMF) - 2012
This paper studies the linkage between structural coherence and economic growth. Structural coherence is defined as the degree that a country's industrial structure optimally reflects its factor endowment fundamentals. The paper found that at least for the overall capital, the shares of capital...
Persistent link: https://www.econbiz.de/10010878416
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Forecasting U.S. Investment
Rabanal, Pau; Lee, Jaewoo - International Monetary Fund (IMF) - 2010
The driving force of U.S. economic growth is expected to rotate from the fiscal stimulus and inventory rebuilding in 2009 to private demand in 2010, with consumption and particularly investment expected to be important contributors to growth. The strength of U.S. investment will hence be a...
Persistent link: https://www.econbiz.de/10008727800
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A Coincident Indicator of the Gulf Cooperation Council (GCC) Business Cycle
Al-Hassan, Abdullah - International Monetary Fund (IMF) - 2009
This paper constructs a coincident indicator for the Gulf Cooperation Council (GCC) area business cycle. The resulting coincident indicator provides a reliable measure of the GCC business cycle; over the last decade, the GCC coincident index and the real GDP growth have moved closely together....
Persistent link: https://www.econbiz.de/10004999961
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France in the Global Economy; A Structural Approximate Dynamic Factor Model Analysis
Simone, Francisco Nadal-De; Kabundi, Alain N. - International Monetary Fund (IMF) - 2007
This study identifies the main shocks that cause fluctuations in French output and their channels of transmission. It uses a large-dimensional structural approximate dynamic factor model. There are three main findings. First, common shocks, especially demand shocks, which seem to originate from...
Persistent link: https://www.econbiz.de/10005768891
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Does Openness to International Financial Flows Raise Productivity Growth?
Prasad, Eswar; Terrones, Marco; Kose, M. Ayhan - International Monetary Fund (IMF) - 2008
productivity (TFP) growth using an extensive dataset that includes various measures of productivity and financial openness for a …
Persistent link: https://www.econbiz.de/10005769199