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Author:
Publisher:
ISBN:
Category : Industrial productivity
Languages : en
Pages : 180
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Author: Robert James Gordon
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 84
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Book Description
This paper studies the dynamic behavior of changes in productivity, wages, and prices. Results are based on a new data set that allows a consistent analysis of the aggregate economy, the manufacturing sector, and the nonmanufacturing sector. Results are presented for the U.S., Japan, and an aggregate called "Europe" consisting of eleven European economies. The primary theme of the paper is that differences between Europe and the U.S. have been substantially exaggerated in recent work. Europe has neither greater nominal wage flexibility nor more rigid real wages than the U.S. Evidence that the U.S. exhibits more nominal rigidity is confined to manufacturing, while the U.S. aggregate and nonmanufacturing sectors display as much nominal wage flexibility as Europe, and similar "output sacrifice ratios" as well. These results undermine the case frequently made against demand expansion in Europe on the ground that such a demand expansion would cause only extra inflation with no bonus of extra output as a result of a uniquely vertical European aggregate supply curve. The analysis of real wages also yields new results. A consistent treatment of the income of the self-employed almost completely eliminates the secular uptrend in previously developed wage gap indexes for Japan and Europe between the 1960s and 1980s. If anything real wages in Europe and Japan were too flexible rather than too rigid, in the sense that much of the increase in wage gap indexes in Europe during 1968-70 and in Japan in 1973-74 can be interpreted as autonomous wage push. The component of increases in wage gap indexes to be attributed to a failure of real wages to respond to the post-1972 productivity growth slowdown is relatively minor. The paper's analysis of productivity change confirms the real-wage elasticity of labor input emphasized previously, but shows that the response of productivity to changes in the real wage, and to cyclical output fluctuations, is roughly the same the U, S., Japan, and Europe. The cyclical analysis allows an estimate of trend productivity growth, revealing interesting differences between the manufacturing and nonmanufacturing sectors in the three economies
Author:
Publisher:
ISBN:
Category : Industrial productivity
Languages : en
Pages : 180
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Book Description
Author:
Publisher:
ISBN:
Category : Industrial productivity
Languages : en
Pages : 172
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Book Description
Author:
Publisher:
ISBN:
Category : Labor
Languages : en
Pages : 178
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Author: Robert James Gordon
Publisher: Cambridge University Press
ISBN: 9780521531429
Category : Business & Economics
Languages : en
Pages : 520
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Author:
Publisher:
ISBN:
Category : Wages
Languages : en
Pages : 172
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Book Description
Author: Mark J. Lasky
Publisher: Routledge
ISBN: 1317502523
Category : Business & Economics
Languages : en
Pages : 190
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Book Description
The behaviour of US productivity since this book was originally publishedin 1994, has added new relevance to the relationship between profits and productivity. In the long run, productivity growth determines the economic standard of living. This book is divided into three parts: the basis of the first is the empirical finding that, controlling for normal business cycle effects, productivity grows faster when profits have been low than otherwise. The second part discusses how to measure marginal cost using time series data and the third tests a basic assumption that productivity growth is exogenous to labour and capital.
Author: C. Usabiaga-Ibánez
Publisher: Springer
ISBN: 1403915946
Category : Business & Economics
Languages : en
Pages : 379
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Book Description
The book sets out to show the current state of macroeconomics, from three main perspectives: methodology, theory and economic policy. It is built on extensive conversation with some of the world's leading macroeconomists. These are based on wide questionnaires, covering jointly almost all the topics of macroeconomic theory, as well as questions of methodology, real economy, and even academic systems and future lines of research. Some of the questions have been put to all the respondents or many of them, with the aim of bringing out their different positions. References about authors and themes are also provided.
Author: Tony Siesfeld
Publisher: Routledge
ISBN: 113635817X
Category : Business & Economics
Languages : en
Pages : 362
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Book Description
First Published in 1998. This text explores how economists and public policy makers are re-thinking the way in which governments monitor, measure and influence an economy in an unbounded global environment where output is largely intangible and organisations are becoming are becoming increasingly non-national in scope. Through a collection of seminal articles written by prominent business people, academics, and public policy makers, this three anthology examines the key issues surrounding the economic impact of knowledge-based growth.
Author: Klaus F. Zimmermann
Publisher: Springer Science & Business Media
ISBN: 3642579892
Category : Business & Economics
Languages : en
Pages : 250
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Book Description
This book consists of four parts: I. Labour demand and supply, II. Productivity slowdown and innovative activity, III. Disequilibrium and business cycle analysis, and IV. Time series analysis of output and employment. It presents a fine selection of articles in the growing field ofthe empirical analysis of output and employment fluctuations with applications in a micro-econometric or a time-series framework. The time-series literature recently has emphasized the careful testing for stationarity and nonlinearity in the data, and the importance of cointegration theory. An essential part of the papers make use of parametric and non-parametric methods developed in this literature and mostly connect their results to the hysteresis discussion about the existence of fragile equilibria. A second set of macro approaches use the disequilibrium framework that has found so much interest in Europe in recent years. The other papers use newly developed methods for microdata,especially qualitative data or limited dependent variables to study microeconomic models of behaviour that explain labour market and output decisions.
