This paper uses a multivariate generalisation of the Beveridge and Nelson methodology to model trends and cycles of business-sector labour productivity in the major OECD countries. The method implies that the trend is the long-term forecast of productivity, given all available information; the...

This paper uses a multivariate generalization of the Beveridge and Nelson methodology to model trends and cycles of business sector labour productivity in the major OECD countries. The method implies that the trend is the long-run forecast of productivity, given all available information; the...

This paper assesses the practical experience of monetary analysis at the ECB from the introduction of the euro in 1999 through 2006. The paper exploits a unique and rich real-time data set, containing both the vintages of data and the economic models that have been employed in the ECB's monetary...

In this article we investigate the effect of product market regulation on the international diffusion of productivity shocks. The results indicate that regulations that restrict competition slow the process of adjustment through which best practice production techniques diffuse across borders...

This paper provides a systematic empirical investigation of the effect of product market liberalization on employment when there are interactions between policies and institutions in product and labor markets. Using panel data for OECD countries over the period 1980-2002, we present evidence...

Over the last twenty years, fifteen Western European nations have removed most barriers to trade and migration, as well as most forms of national discrimination in economic and social exchange. Some have also given up their national currency and their ability to conduct independent monetary and...

In this paper, we review theory and evidence on the links between product market regulations that curb competitive pressures, the efficiency of resource allocation and productivity growth. We show that product market regulations differ across countries and industries and have evolved differently...

This article argues that trade in certain services has a specific feature that does not necessarily apply to goods. In those services, the production process ends in the country where they are eventually consumed (i.e. in the importing country). Hence, we propose that services trade must use...

We identify the impact of intermediate goods markets imperfections on productivity downstream. Our empirical specification is based on a model of multifactor productivity (MFP) growth in which the effects of upstream competition can vary with distance to frontier. This model is estimated on a...

Le présent article a pour principal objectif d’analyser les différences qui caractérisent la réglementation du secteur de la distribution de détail dans la zone OCDE, en s’intéressant plus particulièrement à l’année 1998. Ces différences sont formulées en tenant compte des...