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"This volume is the second of a series of Supplements to OECD Papers gathering together the background papers for the OECD Growth Project. Others will be issued as material becomes available.
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The analogy between the economic problems of the Mezzogiorno region and East Germany has been initially contested by many authors. This paper argues that there are striking similarities in the two regions, in terms of the causes of their economic predicament. With an aggregate labour productivity of 55% relative to the rest of the country, both are true transfer economies, whose consumption exceeds production by far. Beyond locational disadvantages, the present paper identifies overdrawn wages, high social security spending and the Dutch disease problem as core reasons for the poor economic performance and discusses possible cures.
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Government business enterprises --- Labor productivity --- History --- History
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Local government --- Local government --- Performance standards --- Performance standards --- Labor productivity --- Labor productivity
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Industrial productivity --- Internet --- Labor productivity --- Economic aspects --- Forecasting
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A Brookings Institution Press Internet Policy Institute publication In just a few years, the Internet has had a visible impact on the daily lives of many Americans. But the recent demise of many of the "dot coms" that symbolized the Internet revolution has raised warning flags about its future. Until now, discussion of the impact of the Internet on the economy has been mostly speculation. In Beyond the Dot.coms, two of the nation's most respected economists articulate the anticipated economic impact of the Internet over the next five years. Drawing from detailed research conducted by the Brookings Task Force on the Internet and the Berkeley Roundtable on the International Economy (BRIE) Internet Task Force (see page 10), Robert Litan and Alice Rivlin address the Internet's potential impacts on productivity, prices, and market structure. The research suggests that the most significant economic impact of the Internet will be its potential to increase productivity growth in the existing economy--with cheaper transactions, greater management efficiency, increased competition and broadened markets, more effective marketing and pricing, and increased consumer choice, convenience, and satisfaction. The greatest impact may not be felt in e-commerce, but rather in a wide range of "old economy" arenas, including health care and government.
Internet --- Industrial productivity --- Labor productivity --- Economic aspects --- Forecasting.
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This publication provides economists and researchers with a unique source of comparative data on trends in the services sector. It includes annual national accounts statistics on output (gross value added) and employment in service activities for all OECD countries. Data are shown from 1989 to 1999 at the finest level of activity detail available to OECD from national sources. The publication is designed to provide analysts with series containing information on trends in the sector and to help statisticians improve the comparability of these statistics. Also available on CD-ROM and on line a
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El informe sobre las Perspectivas de la economía mundial, publicado dos veces al año en inglés, francés, español y árabe, presenta análisis realizados por economistas del cuerpo técnico del FMI sobre la evolución económica mundial a corto y mediano plazo. En los capítulos se presenta un panorama de la economía mundial; se consideran cuestiones que afectan a los países industriales, los países en desarrollo y las economías en transición hacia un sistema de mercado, y se abordan temas relevantes para la situación actual. Anexos, recuadros, gráficos y un extenso apéndice estadístico complementan el texto.
Exports and Imports --- Inflation --- Macroeconomics --- Production and Operations Management --- International Investment --- Long-term Capital Movements --- Current Account Adjustment --- Short-term Capital Movements --- Macroeconomics: Production --- Human Capital --- Skills --- Occupational Choice --- Labor Productivity --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- International economics --- Finance --- Economic growth --- Technology --- general issues --- Labor productivity --- Capital productivity --- Productivity --- Total factor productivity --- Capital account liberalization --- Industrial productivity --- Balance of payments --- Prices --- United States
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The failure of the neoclassical growth model to account for differences in output per worker across countries has suggested that these differences should be driven by cross-country differences in total factor productivity (TFP). This paper discusses various measures of productivity and its determinants for the OECD countries from different dimensions: (i) the measurement perspective; (ii) evidence on the evolution of productivity levels across OECD countries; and (iii) a critical review of the theoretical and empirical issues regarding the determinants of cross-country productivity differentials.
Labor --- Macroeconomics --- Production and Operations Management --- Economic Growth and Aggregate Productivity: General --- Measurement of Economic Growth --- Aggregate Productivity --- Cross-Country Output Convergence --- Economywide Country Studies: Europe --- Macroeconomics: Production --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Human Capital --- Skills --- Occupational Choice --- Labor Productivity --- Labor Economics: General --- Labour --- income economics --- Productivity --- Total factor productivity --- Labor productivity --- Human capital --- Industrial productivity --- Labor economics --- United States
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This paper considers the adjustment of physical capital within a country in the long run and in the short run. It uses a unique data set on income, labor, human capital, and private and public physical capital in the Spanish regions over the past two decades. In the long run, the movement of physical capital is consistent with its estimated relative rates of return. In the short run, an adverse shock to a region results in a sharp drop in employment and a gradual decline of physical capital; the system returns to its initial capital/labor ratio after four years. The sharp drop in employment is consistent with the view that wages are rigid. The analysis of adjustment in the short run relies on a vector autoregression methodology in which shocks are identified as the interaction between oil prices and the share of manufacturing in a region’s employment.
Labor --- Macroeconomics --- Investment --- Capital --- Intangible Capital --- Capacity --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Human Capital --- Skills --- Occupational Choice --- Labor Productivity --- Geographic Labor Mobility --- Immigrant Workers --- Labor Economics: General --- Unemployment: Models, Duration, Incidence, and Job Search --- Demand and Supply of Labor: General --- Labour --- income economics --- Human capital --- Labor markets --- Labor economics --- Economic theory --- Labor market --- Spain
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