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Business and Economics > Production and Operations Management

You are looking at 1 - 10 of 213 items for :

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Cover IMF Working Papers
Macroeconomic Uncertainty and Capital-Skill Complementarity
Anna Belianska
I examine the impact of macroeconomic uncertainty on labor market outcomes for skilled and unskilled workers and propose a new channel to improve our understanding of the underlying propagation mechanisms. I find that uncertainty shocks are recessionary with the unskilled experiencing a steeper fall in employment. To rationalize these findings, I build a New Keynesian DSGE model with skill heterogeneity and wage rigidities, which, coupled with precautionary labor supply, significantly amplify contractionary effects of uncertainty on the real economy.
Keywords:
Stochastic volatility; Capital-skill complementarity; Relative wages; Skill premium.; uncertainty shock; SVAR impulse response; SVAR methodology; A. solution method; A. Detrending method; Wages; Skilled labor; Labor supply; Employment; Europe
Cover Selected Issues Papers
Informality and Growth in Madagascar: Republic of Madagascar
Ghislain Afavi
,
Coffi Agossou
,
Mokhtar Benlamine
,
Ialy Rasoamanana
,
Nombàna Razafinisoa
, and
Ms. Veronique Salins
This chapter investigates the link between informality and growth in Madagascar and aims for a better understanding of the informal sector. It provides an analysis of the characteristics of informal production units and informal employment. Findings suggest that informality is a key feature of economic activity in Madagascar, and that informal production units are the main driver of employment with a deep concentration around self-employment. Overall, informality is associated with a lack of awareness of administrative procedures and the complexity and cost of tax and regulatory measures. The informal sector’s Total Factor Productivity (TFP) growth is more stable and higher on average than the formal sector TFP.
Keywords:
Madagascar; Informal sector; informality and growth; total factor productivity; social security; tax system; sector TFP; growth in Madagascar; production unit; copyright page; physical capital; Informal employment; Employment; Informal economy; Sub-Saharan Africa
Cover IMF Working Papers
Unleashing India’s Growth Potential
Shinya Kotera
and
Ms. TengTeng Xu
This paper analyzes the drivers of India’s growth in the past five decades and considers baseline and upside scenarios of India’s medium-term potential growth. Using a production function approach, the paper assesses the impact of the pandemic on the key factors of production and therefore its impact on medium-term growth. Successful implementation of wide-ranging structural reforms could help support productivity and potential growth over the medium term.
Keywords:
India; Potential Growth; Labor Markets; Capital; Productivity; Pandemic; Production Function Approach; Structural Reforms.; upside scenario; TengTeng xu; impact of the pandemic; growth rate; Total factor productivity; COVID-19; Human capital; Global
Cover Selected Issues Papers
Structural Transitions to Electric Vehicle Production: Czech Republic
Stephen Ayerst
and
Neree C.G.M. Noumon
Sustaining the impressive convergence gains allowed by the Czech automotive sector has become challenging due to its comparatively lower value added, lower investments in research and development, and lower skills in the labor market. Using a structural model of global value chains, the paper examines policies to smooth the transition to the production of electric vehicles in Czechia. The analysis explores the impacts of increasing labor productivity, boosting production capabilities, and moving up the global value chain. These policies were found to have a relatively lower impact when they shift specialization towards lower value-added stages of production.
Keywords:
Automotive industry; Czech Republic; Convergence; Electric vehicles; Global value chains; Labor productivity; Structural Policy; electric vehicle production; production capability; model illustration; Czechia economy; Policy recommendation; Employment; Skilled labor; Global
Cover Selected Issues Papers
Labor Productivity Dynamics in Spain: A Firm-Level Perspective: Spain
Mr. Nicolas Arregui
and
Ms. Yu Shi
This paper uses firm-level data that covers over 1.2 million Spanish firms during the period of 2003-2019 to provide an updated assessment of the drivers of labor productivity in the Spanish economy, focusing on both TFP and firm investment. The empirical analysis shows significant differences in production constraints in both the capital market and the labor market, across firm size and age. This paper also includes a review of Spain’s ambitious reform commitments under the Recovery, Transformation and Resilience Plan and concludes with recommendations for further action.
Keywords:
Productivity; financial constraint; firm size; competition; labor regulation; labor productivity dynamics; I. data coverage; firm-level data; support measure; optimization problem; Labor productivity; Total factor productivity; Labor markets; Europe; Global
Cover IMF Staff Country Reports
Czech Republic: Selected Issues
International Monetary Fund. European Dept.
This Selected Issues paper examines—through the lenses of a structural model of global value chains—policies that could smooth the transition to the production of electric vehicles in Czechia economy context. In particular, the paper analyzes the impacts of a broad set of policies related to increasing labor productivity, boosting production capabilities in the current set of specialties, and moving up the global value chain. Czechia automotive sector’s value-added share and skill intensity are comparatively lower in the regional context. IMF analysis investigates the potential impact of a transition to electric vehicles in Europe, through a combination of data and modeling techniques. The paper also introduces a stylized structural model of automotive global value chains that includes distinct production of electric and combustion vehicles. The model describes the inter-connectedness of trade and imbeds domestic capability features, including specialization along the global value chain. The model is also calibrated to capture key features of Czechia and Germany’s positions in global value chains, as well as key differences between electric and combustion vehicle production.
Keywords:
electric vehicle production in Czechia; model illustration; Czechia economy; I. model description; consumers from Czechia; Global value chains; Labor productivity; Employment; Skilled labor; Global
Cover Selected Issues Papers
Labor Productivity Dynamics in Spain: A Firm-Level Perspective: Spain
Mr. Nicolas Arregui
and
Ms. Yu Shi
This paper uses firm-level data that covers over 1.2 million Spanish firms during the period of 2003-2019 to provide an updated assessment of the drivers of labor productivity in the Spanish economy, focusing on both TFP and firm investment. The empirical analysis shows significant differences in production constraints in both the capital market and the labor market, across firm size and age. This paper also includes a review of Spain’s ambitious reform commitments under the Recovery, Transformation and Resilience Plan and concludes with recommendations for further action.
Keywords:
Productivity financial constraint firm size competition labor regulation; labor productivity dynamics; I. data coverage; ambitious reform commitment; labor regulation; support measure; Labor productivity; Total factor productivity; Labor markets; Productivity; Europe; Global
Cover IMF Staff Country Reports
Cameroon: Selected Issues
International Monetary Fund. African Dept.
Selected Issues
Keywords:
model calibration; soes subsidization; digital money in Cameroon; micro-finance development; micro-finance institution; Financial inclusion; Mobile banking; Financial sector development; Digital currencies; Microfinance; Sub-Saharan Africa; Global
Cover IMF Staff Country Reports
Cameroon: Selected Issues
International Monetary Fund. African Dept.
Selected Issues
Keywords:
model calibration; soes subsidization; digital money in Cameroon; micro-finance development; micro-finance institution; Financial inclusion; Mobile banking; Financial sector development; Digital currencies; Microfinance; Sub-Saharan Africa; Global
Cover IMF Working Papers
Tracing Productivity Growth Channels in the UK
Mr. Daniel Garcia-Macia
and
Julia Korosteleva
What drove the UK productivity slowdown post-GFC, and how is the post-Covid recovery expected to differ? This paper traces the sources of TFP growth in the UK over the last two decades through the lens of a structural model of innovation, using registry data on the universe of firms. The dominant innovation source in the pre-GFC decade were improvements by incumbent firms on their own products, whereas creation of new varieties by entrants took a leading role post-GFC. In the Covid recovery, survey data suggests that creative destruction (i.e., innovation replacing other firms’ products) is expected to gain importance. This emphasizes the need for growth policies that facilitate labor and capital reallocation across firms, in addition to R&D support.
Keywords:
economic growth; innovation; creative destruction; UK productivity slowdown post-GFC; UK market economy; GFC decade; innovation source; leading role; sources of TFP growth; exit rate; Employment; Total factor productivity; Job creation; Productivity; Job destruction; Global