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Labor productivity in developed countries is analyzed and modeled. Modeling is based on our previous finding that the … rate of labor force participation is a unique function of GDP per capita. Therefore, labor productivity is fully determined … for the U.S. The evolution of labor force productivity is predictable at least at an 11-year horizon. …
Persistent link: https://www.econbiz.de/10005835840
The growth rate of real GDP per capita is modelled and predicted at various time horizons for France, Germany, New Zealand, and the United Kingdom. The rate of growth is represented by a sum of two components – a monotonically decreasing trend and fluctuations related to the change in...
Persistent link: https://www.econbiz.de/10005025745
Using an analog of the boundary element method in engineering and science, we analyze and model unemployment rate in Austria, Italy, the Netherlands, Sweden, Switzerland, and the United States as a function of inflation and the change in labor force. Originally, the model linking unemployment to...
Persistent link: https://www.econbiz.de/10005837146
Using an analog of the boundary elements method in engineering and science, we analyze and model unemployment rate in Austria, Italy, the Netherlands, Sweden, Switzerland, and the United States as a function of inflation and the change in labor force. Originally, the model linking unemployment...
Persistent link: https://www.econbiz.de/10008644994
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
potential growth, largely reflecting a decline of total factor productivity (TFP) growth; (ii) by contrast, trend growth for the …
Persistent link: https://www.econbiz.de/10011142066
, price inflation, labor force participation, productivity, and unemployment. The evolution of real GDP depends only on … presented. The relationships allow a reliable prediction of the macroeconomic state at very large (more than 9 years) time …
Persistent link: https://www.econbiz.de/10005260315
Growth mechanisms can significantly affect short run properties of monetary models. An equilibrium model with human capital accumulation through a learning-by-doing mechanism possesses both sustained inflation rigidity and persistent real responses in the presence of unexpected monetary shocks....
Persistent link: https://www.econbiz.de/10005835350
focused on productivity do not predict economic growth, while indexes emphasizing taxes and costs predict growth of employment …
Persistent link: https://www.econbiz.de/10009001152
This report provides an overview of current research on and knowledge about employment trends and policies in sub-Saharan Africa. Access to productive employment is seen as essential for poverty reduction and the inclusion of the poor in wider society. Productive employment is characterised by...
Persistent link: https://www.econbiz.de/10010856358