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Common and idiosyncratic shocks to labor productivity across sectors and countries: Is climate relevant?

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Author Info
Luciano Gutierrez (University of Sassari)

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Abstract

We use two methodologies, the least square dummy variables approach and the dynamic factor models, to decompose the labor productivity growth rate for a large sample of countries into common, i.e. global, and idiosyncratic, i.e. country, components. We find that country specific effects are much more important than common effects in explaining labor productivity. The interesting result is that, when splitting the sample of countries into those located in temperate zones and those located in tropical zones, we find that the common component plays a larger role in temperate countries. Thus, given the wide gap in labor productivity between the two climatic zones, policy should be targeted on developing technologies for tropical zones and/or on helping them to absorb R&D targeted for temperate countries

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Paper provided by EconWPA in its series Macroeconomics with number 0311008.

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Date of creation: 14 Nov 2003
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Handle: RePEc:wpa:wuwpma:0311008

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Related research
Keywords: Labor productivity; Decomposition; Dynamic factors; Panel unit roots.;

Find related papers by JEL classification:
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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