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Cross-Country Differences in Productivity: The Role of Allocation and Selection
Allocation Selection
2015/9/18
This paper investigates the effect of idiosyncratic ( firm-level) policy
distortions on aggregate outcomes. Exploiting harmonized firm-level
data for a number of countries, we show that there is sub...
Cross country differences in job reallocation: The role of industry, firm size and regulations
firm size regulations
2015/9/18
Somewhat surprisingly, cross-country empirical evidence (at least in the cross section) does not seem to support
the predictions of standard models that economies with stricter regulations on hiring ...
The Role of Entrepreneurship in US Job Creation and Economic Dynamism
the US economy Economic Dynamism
2015/9/18
The United States has long been viewed as having among the world’s most
entrepreneurial, dynamic, and flexible economies. It is often argued that
this dynamism and flexibility has enabled the US eco...
Forecasting Output and Inflation: The Role of Asset Prices
Forecasting Output Inflation Asset Prices
2014/3/18
Because asset prices are forward-looking, they constitute a class of potentially use-ful predictors of inflation and output growth. The premise that interest rates and asset prices contain usefu...