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Total factor productivity (TFP) of 14 manufacturing sectors in France has kept up with that of the United States during 1980-2002 and remained well above that of the United Kingdom. Estimates using a dynamic panel equilibrium correction model indicate that sectors further behind the technological frontier experience faster productivity growth and that spending on research and development and trade with technologically advanced economies positively influences TFP growth, but not the speed of convergence. Conversely, TFP growth is negatively related to some key labor market variables, namely the replacement ratio and the ratio of the minimum wage to the median wage.
Business & Economics --- Economic History --- Labor --- Information Management --- Production and Operations Management --- Innovation --- Research and Development --- Technological Change --- Intellectual Property Rights: General --- Measurement of Economic Growth --- Aggregate Productivity --- Cross-Country Output Convergence --- Comparative Studies of Countries --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Macroeconomics: Production --- Demand and Supply of Labor: General --- Technological Change: Choices and Consequences --- Diffusion Processes --- Macroeconomics --- Labour --- income economics --- Knowledge management --- Total factor productivity --- Productivity --- Labor markets --- Technology transfer --- Capacity utilization --- Technology --- Industrial productivity --- Labor market --- Industrial capacity --- United States
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This paper uses a computable general equilibrium model Maquette for Millennium Development Goal Simulations (MAMS) calibrated to Mongolia to investigate how the development of major mining projects leads to Dutch disease. The simulations suggest that the process is complex, with the relative strength of the different spending and resource movement channels determined by structural features of the economy, such as factor input needs of the mining sector and substitution elasticities, and how mineral windfalls are eventually spent. In Mongolia, mining sector demand for domestic factor inputs explains two-thirds of the appreciation of the real exchange rate, with demand for labor, aquasi-fixed factor, the most potent channel for transmitting Dutch disease. The simulations also suggest that public policies may only play a limited role in limiting Dutch disease, even if growing fiscal revenues are channeled toward productivity-enhancing public investment rather than public consumption or lower taxes. This finding suggests that policy makers face real trade-offs, namely that, as an equilibrium response, Dutch disease is unavoidable and at odds with an export-led, manufacturing-oriented development strategy unless resources are left in the ground (or mining earnings are saved abroad). If the objective is to limit Dutch disease, then the simulations point to policies that minimize the usage of domestic inputs by the mining sector, or that accommodate the growing demand for key inputs such as labor e.g. through immigration. Regarding spending, policy makers should channel mining revenues toward public investment, to expand the economy's long-run supply potential. Where large direct income flows from the mining sector to households are important, monetary policy may be more useful than fiscal policy in constraining private spending.
CGE --- Computable General Equilibrium --- Dutch Disease --- Mams --- Mdgs --- Millennium Development Goal
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This paper provides an overview of the key economic factors that shape tax policy reform in many high-income countries, developing countries, and/or transition economies. The paper describes and evaluates global and regional developments with respect to tax rates and revenue ratios over the last some 20 years, and discusses selected structural reform initiatives that have been high on the policy agenda over this period. In particular, it focuses on developments relating to experiments with the restructuring of corporate tax, the impact of corporate taxes on FDI, key reform initiatives including dual income taxes and flat taxes, as well as the worldwide spread of the VAT and policy developments associated with climate change and natural resource taxation.
Personal Finance -Taxation --- Public Finance --- Taxation --- Corporate Taxation --- Business Taxes and Subsidies --- Personal Income and Other Nonbusiness Taxes and Subsidies --- Taxation, Subsidies, and Revenue: General --- Public finance & taxation --- Corporate & business tax --- Corporate income tax --- Personal income tax --- Income and capital gains taxes --- Revenue administration --- Corporate taxes --- Corporations --- Income tax --- Revenue --- United States --- Taxation. --- Fiscal policy.
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