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Author: Alistair Dieppe Publisher: World Bank Publications ISBN: 1464816093 Category : Business & Economics Languages : en Pages : 552
Book Description
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
Author: Alistair Dieppe Publisher: World Bank Publications ISBN: 1464816093 Category : Business & Economics Languages : en Pages : 552
Book Description
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
Author: Robert Shimer Publisher: Princeton University Press ISBN: 1400835232 Category : Business & Economics Languages : en Pages : 189
Book Description
Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.
Author: Janice Eberly Publisher: Brookings Institution Press ISBN: 0815739745 Category : Political Science Languages : en Pages : 476
Book Description
The Brookings Papers on Economic Activity (BPEA) is a semi-annual academic conference and journal that pairs rigorous research with real-time policy analysis to address the most urgent economic challenges of the day. Working drafts of the papers are presented at the conference typically held twice each year. The final papers and discussant remarks from each conference are subsequently published in the journal several months later. POPP, VONA, MARIN and CHEN on The Employment Impact of a Green Fiscal Push: Evidence from the American Recovery and Reinvestment Act BUCKMAN, CHOI, DALY and SEITELMAN on The Economic Gains from Equity CHERRY, JIANG, MATVOS, PISKORSKI and SERU on Government and Private Household Debt Relief during COVID-19 RENNERT, PREST, PIZER, NEWELL, ANTHOFF, KINGDON, RENNELS, COOKE, RAFTERY, ŠEVČÍKOVÁ and ERRICKSON on The Social Cost of Carbon: Advances in Long-Term Probabilistic Projections of Population, GDP, Emissions, and Discount Rates REIS on Losing the Inflation Anchor AUTOR, DORN and HANSON on On the Persistence of the China Shock
Author: Kwang Suk Kim Publisher: BRILL ISBN: 1684172195 Category : History Languages : en Pages : 224
Book Description
This study provides a comprehensive overview of Korea’s macroeconomic growth and structural change since World War II, and traces some of the roots of development to the colonial period. The authors explore in detail colonial development, changing national income patterns, relative price shifts, sources of aggregate growth, and sources of sectoral structural change, comparing them with other countries.
Author: Andrés Solimano Publisher: Cambridge University Press ISBN: 1108485049 Category : Business & Economics Languages : en Pages : 241
Book Description
This book examines the array of financial crises, slumps, depressions and recessions that happened around the globe during the twentieth and early twenty-first centuries. It covers events including World War I, hyperinflation and market crashes in the 1920s, the Great Depression of the 1930s, stagflation of the 1970s, the Latin American debt crises of the 1980s, the post-socialist transitions in Central Eastern Europe and Russia in the 1990s, and the great financial crisis of 2008-09. In addition to providing wide geographic and historical coverage of episodes of crisis in North America, Europe, Latin America and Asia, the book clarifies basic concepts in the area of recession economics, analysis of high inflation, debt crises, political cycles and international political economy. An understanding of these concepts is needed to comprehend big recessions and slumps that often lead to both political change and the reassessment of prevailing economic paradigms.
Author: Guillermo Perry Publisher: World Bank Publications ISBN: 0821370936 Category : Business & Economics Languages : en Pages : 270
Book Description
Analyzes informality in Latin America, exploring root causes and reasons for and implications of its growth. This book uses two distinct but complementary lenses. It concludes that reducing informality levels and overcoming the "culture of informality" will require actions to increase aggregate productivity in the economy.
Author: Jordi Galí Publisher: Princeton University Press ISBN: 1400866278 Category : Business & Economics Languages : en Pages : 295
Book Description
The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts
Author: World Bank Group Publisher: World Bank Publications ISBN: 1464813868 Category : Business & Economics Languages : en Pages : 494
Book Description
The outlook for the global economy has darkened. Global financing conditions have tightened, industrial production has moderated, trade tensions have intensified, and some large emerging market and developing economies have experienced significant financial market stress. Faced with these headwinds, the recovery in emerging market and developing economies has lost momentum. Downside risks have become more acute and include the possibility of disorderly financial market movements and an escalation of trade disputes. Debt vulnerabilities in emerging market and developing economies, particularly low-income countries, have increased. More frequent severe weather events would raise the possibility of large swings in international food prices, which could deepen poverty. In this difficult environment, it is of paramount importance for emerging market and developing economies to rebuild policy buffers while laying a stronger foundation for future growth by boosting human capital, promoting trade integration, and addressing the challenges associated with informality,
Author: Alistair Dieppe
Author: Alistair Dieppe
Author: Robert Shimer
Author: Janice Eberly
Author: INTERNATIONAL MONETARY FUND.
Author: Kwang Suk Kim
Author: Andrés Solimano
Author: Jesús Huerta de Soto
Author: Guillermo Perry
Author: Jordi Galí
Author: World Bank Group