Search Results
Showing results 1 to 10 of approximately 53.
(refine search)
Working Paper
International technology Diffusion: A Gravity Approach
Santacreu, Ana Maria
(2020-10-29)
This paper investigates, empirically, the determinants of international technology diffusion using data on technology licensing fees for 61 countries during 1995-2012. A multi-country model of innovation and diffusion yields a gravity equation for bilateral royalty payments as a function of economic fundamentals. The gravity equation is estimated using nonlinear methods. I then investigate discrepancies between the model's predictions and observed royalty payments to identify the role of fundamentals vs. other factors such as imperfect IPR protection, the production structure and tax ...
Working Papers
, Paper 2019-031
Journal Article
Growth and the Kaldor Facts
Valentinyi, Akos; Rogerson, Richard; Herrendorf, Berthold
(2019)
We revisit the Kaldor growth facts for the United States and the United Kingdom during the postwar period. We find that while overall the original Kaldor facts continue to hold, deviations occurred along several dimensions: Instead of staying constant, the growth rates of real GDP per worker and of real capital per worker have slowed down in the United States and the United Kingdom since the 1970s, the capital-to-output ratio has increased in the United Kingdom, and the share of income paid to labor has decreased in the United States since 1990. We discuss how to calculate the Kaldor facts in ...
Review
, Volume 101
, Issue 4
, Pages 259-76
Report
Why has the cyclicality of productivity changed?: what does it mean?
Fernald, John G.; Wang, J. Christina
(2015-10-01)
Historically, U.S. labor productivity (output per hour) and total factor productivity (TFP) rose in booms and fell in recessions. Different models of business cycles explain this procyclicality differently. Traditional Keynesian models relied on "factor hoarding," that is, variations in how intensively labor and capital were utilized over the business cycle. Real business cycle (RBC) models instead posit that procyclical technology shocks drive the business cycle. Since the mid-1980s, however, the procyclicality of productivity has waned. TFP has been roughly acyclical with respect to ...
Current Policy Perspectives
, Paper 15-6
Report
The Great Recession, entrepreneurship, and productivity performance
Diez, Federico J.
(2014-11-01)
In recent years, it is argued, the level of entrepreneurial activity in the United States has declined, causing concern because of its potential macroeconomic implications. In particular, it is feared that a lower rate of firm creation may be associated with lower productivity growth and, hence, lower economic growth in the coming years. This paper studies the issue, focusing on the dynamics of entrepreneurship and productivity around the time of the Great Recession. The author looks first at the recent evolution of alternative measures of entrepreneurship and of productivity, and then ...
Current Policy Perspectives
, Paper 14-8
Report
Newer need not be better: evaluating the Penn World Tables and the World Development Indicators using nighttime lights
Pinkovskiy, Maxim L.; Sala-i-Martin, Xavier X.
(2016-06-01)
Nighttime lights data are a measure of economic activity whose measurement error is plausibly independent of the errors of most conventional indicators. Therefore, we can use nighttime lights as an independent benchmark to assess existing measures of economic activity (Pinkovskiy and Sala-i-Martin 2016). We employ this insight to find out which vintages of the Penn World Tables (PWT) and of the World Development Indicators (WDI) better estimate true income per capita. We find that revisions of the PWT do not necessarily dominate their predecessors in terms of explaining nighttime lights (and ...
Staff Reports
, Paper 778
Report
Growth uncertainty and risksharing
Van Wincoop, Eric; Athanasoulis, Stefano
(1997-10-01)
We propose a new methodology to evaluate the gains from global risksharing that is closely connected to the empirical growth literature. We obtain estimates of residual risk (growth uncertainty) at various horizons from regressions of country-specific deviations from world growth on a wide set of variables in the information set. Since this residual risk can be entirely hedged, we use it to obtain a measure of welfare gain that can be achieved by a representative country. We find that nations can reap very large benefits from engaging in such risksharing arrangements. Using post-war data, the ...
Staff Reports
, Paper 30
Report
Estimation of cross-country differences in industry production functions.
Harrigan, James
(1998-01-01)
International trade economists typically assume that there are no cross-country differences in industry total factor productivity (TFP). In contrast, this paper finds large and persistent TFP differences across a group of industrialized countries in the 1980s. The paper calculates TFP indices, and statistically examines the sources of the observed large TFP differences across countries. Two hypotheses are examined to account for TFP differences: constant returns to scale production with country-specific technological differences, and industry-level scale economies with identical technology in ...
Staff Reports
, Paper 36
Report
Financial frictions, real estate collateral, and small firm activity in Europe
Banerjee, Ryan N.; Blickle, Kristian S.
(2018-10-01)
We observe significant heterogeneity in the correlation between changes in house prices and the growth of small firms across certain countries in Europe. We find that, overall, the correlation is far greater in Southern Europe than in Northern Europe. Using a simple model, we show that this heterogeneity may relate to financial frictions in a country. We confirm the model?s propositions in a number of empirical analyses for the following countries in Northern and Southern Europe: the United Kingdom, Norway, France, Italy, Spain, and Portugal. Small firms in countries with higher financial ...
Staff Reports
, Paper 868
Working Paper
Misallocation and Intersectoral Linkages
Osotimehin, Sophie; Popov, Latchezar
(2020-02-18)
We analytically characterize the aggregate productivity loss from allocative distortions in a setting that accounts for the sectoral linkages of production. We show that the effects of distortions and the role of sectoral linkages depend crucially on how substitutable inputs are. We find that the productivity loss is smaller if input substitutability is low. Moreover, with low input substitutability, sectoral linkages do not systematically amplify the effects of distortions. In addition, the impact of the sectors that supply intermediate inputs becomes smaller. We quantify these effects in ...
Opportunity and Inclusive Growth Institute Working Papers
, Paper 30
Working Paper
Knowledge Diffusion, Trade and Innovation across Countries and Sectors
Santacreu, Ana Maria; Li, Nan; Cai, Jie
(2019-11-18)
We provide a unified framework for quantifying the cross country and cross-sector interactions among trade, innovation, and knowledge diffusion. We study the effect of trade liberalization in a multi-country, multi-sector endogenous growth model in which comparative advantage and the stock of knowledge are determined by innovation and diffusion. A reduction in trade costs induces a re-allocation of comparative advantage in production and innovation across sectors, which translates into higher growth along the counterfactual balanced growth path (BGP). Heterogeneous knowledge diffusion across ...
Working Papers
, Paper 2017-29
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of St. Louis 12 items
Board of Governors of the Federal Reserve System (U.S.) 11 items
Federal Reserve Bank of New York 6 items
Federal Reserve Bank of San Francisco 6 items
Federal Reserve Bank of Cleveland 4 items
Federal Reserve Bank of Minneapolis 4 items
Federal Reserve Bank of Boston 3 items
Federal Reserve Bank of Chicago 2 items
Federal Reserve Bank of Dallas 2 items
Federal Reserve Bank of Atlanta 1 items
Federal Reserve Bank of Kansas City 1 items
Federal Reserve Bank of Richmond 1 items
show more (7)
show less
FILTER BY Series
Working Papers 12 items
Working Paper Series 8 items
International Finance Discussion Papers 5 items
Review 5 items
Finance and Economics Discussion Series 4 items
Staff Reports 4 items
Current Policy Perspectives 2 items
Economic Policy Review 2 items
Federal Reserve Bulletin 2 items
Staff Report 2 items
Working Papers (Old Series) 2 items
FRB Atlanta Working Paper 1 items
Globalization Institute Working Papers 1 items
Opportunity and Inclusive Growth Institute Working Papers 1 items
Research Working Paper 1 items
Working Paper 1 items
show more (11)
show less
FILTER BY Content Type
FILTER BY Author
Fernald, John G. 7 items
Santacreu, Ana Maria 7 items
Asturias, Jose 3 items
Cai, Jie 3 items
Dias, Daniel A. 3 items
Hur, Sewon 3 items
Kehoe, Timothy J. 3 items
Li, Nan 3 items
Marques, Carlos Robalo 3 items
Ruhl, Kim J. 3 items
Wang, J. Christina 3 items
Byrne, David M. 2 items
Corrado, Carol 2 items
Decker, Ryan 2 items
Haltiwanger, John 2 items
Herrendorf, Berthold 2 items
Hobijn, Bart 2 items
Jarmin, Ron S. 2 items
Miranda, Javier 2 items
Pinkovskiy, Maxim L. 2 items
Richmond, Christine 2 items
Arias, Maria A. 1 items
Athanasoulis, Stefano 1 items
Atkinson, Tyler 1 items
Banerjee, Ryan N. 1 items
Basu, Susanto 1 items
Blickle, Kristian S. 1 items
Bosler, Canyon 1 items
Buera, Francisco J. 1 items
Caliendo, Lorenzo 1 items
Cavalcanti Ferreira, Pedro 1 items
Cette, Gilbert 1 items
Clark, Hunter L. 1 items
Cortes, Kristle Romero 1 items
Daly, Mary C. 1 items
Dawson, Jeffrey B. 1 items
Diez, Federico J. 1 items
Doyle, Brian M. 1 items
Duca, John V. 1 items
Esfahani, Mehrdad 1 items
Fang, Lei 1 items
Faust, Jon 1 items
Gopinath, Gita 1 items
Gust, Christopher J. 1 items
Harrigan, James 1 items
He, Qinchun 1 items
Higgins, Matthew 1 items
Inklaar, Robert 1 items
Jovanovic, Boyan 1 items
Kalemli-Ozcan, Sebnem 1 items
Karabarbounis, Loukas 1 items
Karabarbounis, Marios 1 items
Kim, Minho 1 items
Levchenko, Andrei A. 1 items
Lunsford, Kurt Graden 1 items
Luo, Yulei 1 items
Ma, Sai 1 items
Macnamara, Patrick 1 items
Marquez, Jaime R. 1 items
Martellini, Paolo 1 items
Menzio, Guido 1 items
Mojon, Benoit 1 items
Monge-Naranjo, Alexander 1 items
Nie, Jun 1 items
Oberfield, Ezra 1 items
Oh, Jiyoon 1 items
Osotimehin, Sophie 1 items
Parro, Fernando 1 items
Popov, Latchezar 1 items
Rogerson, Richard 1 items
Rossi-Hansberg, Esteban 1 items
Sala-i-Martin, Xavier X. 1 items
Sarte, Pierre-Daniel G. 1 items
Shin, Yongseok 1 items
Torres de Mello Pereira, Luciene 1 items
Valentinyi, Akos 1 items
Van Wincoop, Eric 1 items
Villegas-Sanchez, Carolina 1 items
Wang, Ping 1 items
Weinberger, Ariel 1 items
Wen, Yi 1 items
Wong, Tsz-Nga 1 items
Yip, Chong K. 1 items
Zhang, Jing 1 items
Zhu, Heting 1 items
Zou, Heng-fu 1 items
show more (81)
show less
FILTER BY Jel Classification
O41 16 items
D24 12 items
O33 10 items
F12 8 items
E22 7 items
E23 7 items
F43 5 items
E32 4 items
E44 4 items
O11 4 items
E24 3 items
J24 3 items
L11 3 items
O10 3 items
O38 3 items
O40 3 items
O57 3 items
E01 2 items
E13 2 items
F1 2 items
F11 2 items
F41 2 items
F45 2 items
L26 2 items
L86 2 items
O51 2 items
C12 1 items
C13 1 items
C32 1 items
C36 1 items
D13 1 items
D22 1 items
D57 1 items
D61 1 items
D80 1 items
D91 1 items
E20 1 items
E3 1 items
E41 1 items
E5 1 items
E52 1 items
F10 1 items
F14 1 items
G21 1 items
G24 1 items
G30 1 items
G32 1 items
G33 1 items
J13 1 items
J23 1 items
J31 1 items
J63 1 items
J64 1 items
K11 1 items
L16 1 items
L25 1 items
L52 1 items
L60 1 items
M13 1 items
O16 1 items
O42 1 items
O43 1 items
O50 1 items
O53 1 items
R12 1 items
R13 1 items
R30 1 items
show more (63)
show less
FILTER BY Keywords
Productivity 15 items
Misallocation 6 items
Entry 4 items
Exit 4 items
Technology diffusion 4 items
Barriers to technology adoption 3 items
Knowledge spillovers 3 items
R&D 3 items
intellectual property rights 3 items
international trade 3 items
royalty payments 3 items
sectoral linkages 3 items
Firm-level data 3 items
China 2 items
Economic development 2 items
Entry costs 2 items
Job reallocation 2 items
Labor supply and demand 2 items
TFP 2 items
business cycles 2 items
total factor productivity 2 items
Entrepreneurship 2 items
Information technology 2 items
Price Measurement 2 items
Structural transformation 2 items
Aggregate productivity 1 items
Biased technical change 1 items
CES production function 1 items
Capital flows 1 items
Cash-in-advance 1 items
Cloud computing 1 items
Computer software and internet services 1 items
Consumer Digital Services 1 items
Consumer Durables 1 items
Consumer Surplus 1 items
Convergence 1 items
DSGE models 1 items
Digital Transformation 1 items
Dispersion 1 items
Downside risk 1 items
Dynamism 1 items
Economic history 1 items
Entry barriers 1 items
Europe 1 items
F Statistic 1 items
Frechet distribution 1 items
GDP 1 items
Gelbach decomposition 1 items
Great Recession 1 items
Group of Seven countries 1 items
Growth 1 items
Growth accounting 1 items
Growth and welfare 1 items
Growth at risk 1 items
High-performance computing 1 items
ICT services 1 items
Ict 1 items
Inequality 1 items
Information And Communication Technology 1 items
Information and communications technology (ICT) 1 items
Input-output 1 items
Interregional trade 1 items
Labor productivity 1 items
Market power 1 items
Monetary policy 1 items
Potential output 1 items
Prices 1 items
Production network 1 items
Productivity Growth 1 items
Productivity Shocks 1 items
Proxy Variable 1 items
Ricardian models of trade 1 items
Risk 1 items
Sarbanes-Oxley 1 items
Schumpeterian model 1 items
Search frictions 1 items
Spirit of capitalism 1 items
Structural Vector Autoregression 1 items
Survival 1 items
Technology 1 items
Uncertainty and growth 1 items
Venture capital 1 items
Volatility 1 items
Weak IV 1 items
bankruptcy laws 1 items
credit supply 1 items
economic growth 1 items
education 1 items
endogenous borrowing constraints 1 items
externality 1 items
factor mobility 1 items
fertility 1 items
financial frictions 1 items
financial integration 1 items
firm creation 1 items
firm financing 1 items
foreclosure 1 items
global outlook 1 items
gross domestic product 1 items
growth rate 1 items
growth volatility 1 items
growth-accounting 1 items
income growth 1 items
intersectoral linkages 1 items
labor hoarding 1 items
long-duration bonds 1 items
long-run growth 1 items
measurement 1 items
mortgage default 1 items
multi-sector growth models 1 items
natural disasters 1 items
nighttime lights 1 items
policy 1 items
procyclical productivity 1 items
purchasing power parity 1 items
quarterly workforce indicators 1 items
real estate collateral 1 items
regulatory costs 1 items
scale economies 1 items
sectoral TFP 1 items
technological change 1 items
total factor productivity growth 1 items
trade 1 items
vacancy 1 items
wedges 1 items
welfare 1 items
world economy 1 items
show more (130)
show less