Inflation and the Real Exchange Rate in CEECs: Does Productivity Growth Really Matter?During their decade-long haul towards the market economy, most of Central Europe's transition economies have experienced a very rapid productivity growth, especially in their industrial sector. A first glance at ...
Productivity Growth, On-the-Job Search, and Unemployment The impact of long-run productivity growth on unemployment is studied. We incorporate disembodied technological progress and on-the-job search into the endogenous job separation model of Mortensen and Pissarides (1994). Because we includ... H...
In recent years, progress in emerging economies has slowed across all three lanes (Exhibit 7). This means the pace of convergence with advanced economies has been decelerating, as shown in Exhibit 4 by the almost universal inverted U-shape in each region’s trajectory. The growth rates of eme...
When the production process is improved, the output can go up. By increasing the input process, one can have growth in productivity. An upsurge in productivity means workers can effectively increase their output without an increment in the time and cost it takes to produce the goods or services...
Use ClickUp Reminders to ensure you never miss a single deliverable—no matter how small! 👀 Did You Know? The Zeigarnik Effect is a psychological principle where people tend to remember incomplete or interrupted tasks more vividly than completed ones. This effect can lead to persistent mental ...
Until this morning, the official data showed that the U.S. productivity growth accelerated during the financial crisis. Nonfarm business productivity growth supposedly went from a 1.2% annual rate in 2005-2007, to a 2.3% annual rate in 2007-2009. Many c
Over the long term, nothing beats a high rate of productivity growth. If GDP is growing simply because the population is growing, it is not much of an achievement. On average, the people are no better off. The key to raising income per capita is to increase the amount (or value) of ...
Multifactor productivity (MFP)is equivalent to the growth rate of output not accounted for by the growth rates in the individual inputs (weighted by their contributions to production). This residual captures technology change, changes in management practices and institutions, measurement errors, and ...
The prefecture-level cities with economic-growth targets higher than their actual economic-growth rates in the current year were considered as the high-economic-growth-pressure group, otherwise they were considered the low-economic-growth-pressure group. The results of columns 1–3 in Table A1 in...
Complicating matters, firms today are confronting a new capital markets reality. Interest rates are higher, as is asset price volatility.27More turbulence may be ahead as global balance sheets deleverage. How this will impact investment is unclear: in the long term, real interest rates matter and...