productivity across sectors exhibits weak correlation. While previous work examined production complementarity, our analysis … production and a low marginal cost of replication, sectors can share the cost to forecast their sector-specific productivity …

manufacturing production. Labor market reform is modeled as a reduction in firing costs and/or unemployment benefits. We find that … business cycle conditions at the time of deregulation significantly affect adjustment. A reduction of firing costs entails …

The wave of crises that began in 2008 reheated the debate on market deregulation as a tool to improve economic … policy to reduce transition costs. Third, deregulation reduces static and dynamic inefficiencies, making price stability more … desirable. International synchronization of reforms can eliminate policy tradeoffs generated by asymmetric deregulation …

In this paper we present a simple, theory-based measure of the variations in aggregate economic efficiency associated … those derived by Lucas (1987). It also suggests that the major postwar recessions involved substantial efficiency costs …

-aged individuals. Understanding the mechanism underlying this observation is key to explaining the volatility of aggregate hours over … cyclical characteristics of labor demand. To articulate this view, we consider a production technology displaying capital …

affect industrial production; nor did the cotton harvest before the late 1870s. The unique effect of the cotton harvest in …

This paper shows that proximity to major international financial centers seems to reduce business cycle volatility. In …

1990s and thereafter. U.S. data also show a secular decline in the job destruction rate and the volatility of firm … relationship of job destruction and business volatility to unemployment flows. We find strong evidence that declines in the …

volatility literature, namely its relative neglect of the connection between macroeconomic fundamentals and asset return … volatility. We progress by analyzing a broad international cross section of stock markets covering approximately forty countries …