TY - BOOK ID - 85600477 TI - Eastern Caribbean Currency Union : Selected Issues. PY - 2017 SN - 1484303539 1484303490 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Macroeconomics KW - Public Finance KW - Production and Operations Management KW - Fiscal Policy KW - Production KW - Cost KW - Capital and Total Factor Productivity KW - Capacity KW - Human Capital KW - Skills KW - Occupational Choice KW - Labor Productivity KW - Macroeconomics: Production KW - Labor Economics: General KW - Public finance & taxation KW - Labour KW - income economics KW - Fiscal rules KW - Total factor productivity KW - Labor productivity KW - Labor KW - Public debt KW - Fiscal policy KW - Industrial productivity KW - Labor economics KW - Debts, Public KW - Eastern Caribbean Currency Union UR - https://www.unicat.be/uniCat?func=search&query=sysid:85600477 AB - This Selected Issues paper analyzes productivity in the Eastern Caribbean Currency Union by exploring two complementary exercises. It computes total factor productivity by extending standard growth accounting frameworks with (1) the impact of natural disasters on the stock and productivity of physical capital; (2) human capital accumulation; and (3) the impact of out-migration on labor and human capital. The paper also analyzes labor productivity, including across economic sectors. The results indicate that the historical deceleration in growth was driven mostly by the declining contribution of total factor productivity, which resulted in stagnation in the aftermath of the global financial crisis. Labor productivity measures show that labor is largely allocated in the sectors with relatively lower productivity. ER -