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Alpo Willman

Citations

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Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Miguel A. León-Ledesma & Peter McAdam & Alpo Willman, 2010. "Identifying the Elasticity of Substitution with Biased Technical Change," American Economic Review, American Economic Association, vol. 100(4), pages 1330-1357, September.

    Mentioned in:

    1. Identifying the Elasticity of Substitution with Biased Technical Change (AER 2010) in ReplicationWiki ()
  2. Rainer Klump & Peter McAdam & Alpo Willman, 2007. "Factor Substitution and Factor-Augmenting Technical Progress in the United States: A Normalized Supply-Side System Approach," The Review of Economics and Statistics, MIT Press, vol. 89(1), pages 183-192, February.

    Mentioned in:

    1. Factor Substitution and Factor-Augmenting Technical Progress in the United States: A Normalized Supply-Side System Approach (REStat 2007) in ReplicationWiki ()

Working papers

  1. Manu, Ana-Simona & McAdam, Peter & Willman, Alpo, 2018. "The role of factor substitution and technical progress in China's great expansion," Working Paper Series 2180, European Central Bank.

    Cited by:

    1. Zhang, Xiaobei & Wang, Xiaojun, 2021. "Measures of human capital and the mechanics of economic growth," China Economic Review, Elsevier, vol. 68(C).
    2. Shaghil Ahmed & Ricardo Correa & Daniel A. Dias & Nils M. Gornemann & Jasper Hoek & Anil K. Jain & Edith X. Liu & Anna Wong, 2019. "Global Spillovers of a China Hard Landing," International Finance Discussion Papers 1260, Board of Governors of the Federal Reserve System (U.S.).
    3. Michael Knoblach & Fabian Stöckl, 2020. "What Determines The Elasticity Of Substitution Between Capital And Labor? A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 34(4), pages 847-875, September.
    4. Song, Eunbi, 2021. "What drives labor share change? Evidence from Korean industries," Economic Modelling, Elsevier, vol. 94(C), pages 370-385.
    5. Shaghil Ahmed & Ricardo Correa & Daniel A. Dias & Nils Gornemann & Jasper Hoek & Anil Jain & Edith Liu & Anna Wong, 2022. "Global Spillovers of a Chinese Growth Slowdown," JRFM, MDPI, vol. 15(12), pages 1-23, December.

  2. McAdam, Peter & Willman, Alpo, 2015. "Unraveling the skill premium," Working Paper Series 1800, European Central Bank.

    Cited by:

    1. Trenczek, Jan & Wacker, Konstantin M., 2023. "Human Capital Misallocation and Output per Worker Differences: Beyond Cobb-Douglas," GLO Discussion Paper Series 1331, Global Labor Organization (GLO).
    2. Lagomarsino, Elena, 2021. "Which nesting structure for the CES? A new selection approach based on input separability," Economic Modelling, Elsevier, vol. 102(C).
    3. Jan Trenczek & Konstantin M. Wacker, 2023. "Accounting for cross-country output differences: A sectoral CES perspective," Working Papers 2023.09, International Network for Economic Research - INFER.
    4. Óscar Afonso & Pedro Mazeda Gil, 2025. "Competition between workers and capitalists in the globalized world: A directed technical change approach," International Journal of Economic Theory, The International Society for Economic Theory, vol. 21(4), pages 400-446, December.
    5. Bellocchi, Alessandro & Saraceno, Francesco & Travaglini, Giuseppe, 2025. "Closing the productivity–wage gap in the European Union: The role of the labor share," Structural Change and Economic Dynamics, Elsevier, vol. 75(C), pages 689-702.
    6. Afonso, Oscar, 2023. "Inflation, technological-knowledge bias, and wages," Research in Economics, Elsevier, vol. 77(1), pages 91-103.
    7. Michael Knoblach & Fabian Stöckl, 2020. "What Determines The Elasticity Of Substitution Between Capital And Labor? A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 34(4), pages 847-875, September.
    8. Vladimir Matveenko & Shamil Sharapudinov, 2016. "Factor-Biased Technological Change and the Skill Premium: A Cross-Country Evidence," EUSP Department of Economics Working Paper Series 2016/05, European University at St. Petersburg, Department of Economics.
    9. Knoblach, Michael, 2019. "Skill-biased technological change, endogenous labor supply, and the skill premium," CEPIE Working Papers 03/19, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    10. Afonso, Oscar & Gil, Pedro Mazeda, 2024. "Territorial comparative advantage, wage inequality, and monetary policy in the global world," Journal of International Money and Finance, Elsevier, vol. 143(C).
    11. Óscar Afonso & Pedro G. Lima & Tiago Sequeira, 2022. "The effects of automation and lobbying in wage inequality: a directed technical change model with routine and non-routine tasks," Journal of Evolutionary Economics, Springer, vol. 32(5), pages 1467-1497, November.
    12. Jakub Growiec, 2019. "The Hardware-Software Model: A New Conceptual Framework of Production, R&D, and Growth with AI," KAE Working Papers 2019-042, Warsaw School of Economics, Collegium of Economic Analysis.
    13. Garcia-Lazaro, Aida & Mendez-Astudillo, Jorge & Lattanzio, Susan & Larkin, Charles & Newnes, Linda, 2025. "The digital skill premium: Evidence from job vacancy data," Economics Letters, Elsevier, vol. 250(C).
    14. Zhang, Dongyang & Wang, Cao & Miao, Shan & Deng, Lei, 2024. "The impact of firm's ESG performance on the skill premium: Evidence from China's green finance reform pilot zone," International Review of Financial Analysis, Elsevier, vol. 93(C).
    15. Óscar Afonso & Ana Maria Bandeira & Manuela Magalhães, 2017. "Effect of the Tax System ON R&D Intensity, Growth, Wages and Consumption Share," Australian Economic Papers, Wiley Blackwell, vol. 56(4), pages 271-291, December.
    16. Jong‐Suk Han & Jong‐Wha Lee & Eunbi Song, 2024. "Skill substitutability, trade with China and college wage premium in Korea," The World Economy, Wiley Blackwell, vol. 47(2), pages 415-439, February.

  3. Willman, Alpo & Dieppe, Alistair & Baumann, Ursel & González Pandiella, Alberto, 2014. "Model of the United States economy with learning MUSEL," Working Paper Series 1745, European Central Bank.

    Cited by:

    1. Angelini, Elena & Ca' Zorzi, Michele & Forster, Katrin, 2014. "External and macroeconomic adjustment in the larger euro area countries," Working Paper Series 1647, European Central Bank.

  4. Miguel A León-Ledesma & Peter McAdam & Alpo Willman, 2012. "Non-Balanced Growth and Production Technology Estimation," Studies in Economics 1204, School of Economics, University of Kent.

    Cited by:

    1. Jeroen Klijs & Jack Peerlings & Wim Heijman, 2017. "Introducing labour productivity changes into models used for economic impact analysis in tourism," Tourism Economics, , vol. 23(3), pages 561-576, May.
    2. Cristiano Cantore & Miguel León-Ledesma & Peter McAdam & Alpo Willman, 2014. "Shocking Stuff: Technology, Hours, And Factor Substitution," Journal of the European Economic Association, European Economic Association, vol. 12(1), pages 108-128, February.
    3. Miguel A. Leon-Ledesma & Mathan Satchi, 2015. "Appropriate Technology and Balanced Growth," Studies in Economics 1614, School of Economics, University of Kent, revised Nov 2016.
    4. Miguel A. Leon-Ledesma & Mathan Satchi, 2015. "Appropriate Technology and the Labour Share," Studies in Economics 1505, School of Economics, University of Kent, revised Nov 2016.
    5. Mr. Cristiano Cantore & Mr. Paul L Levine & Mr. Giovanni Melina, 2013. "A Fiscal Stimulus and Jobless Recovery," IMF Working Papers 2013/017, International Monetary Fund.

  5. Alpo Willman & Miguel A. León-Ledesma & Peter McAdam, 2012. "Explaining the Skill Premium: Technical Change or Capita-Skill Complements?," EcoMod2012 4356, EcoMod.

    Cited by:

    1. Michal Antoszewski & Jakub Boratynski & Magdalena Zachlod-Jelec & Krzysztof Wojtowicz & Maciej Cygler & Robert Jeszke & Maciej Pyrka & Przemyslaw Sikora & Christoph Bohringer & Jan Gaska & Erika Jorge, 2015. "CGE model PLACE," MF Working Papers 24, Ministry of Finance in Poland.

  6. Willman, Alpo & Dieppe, Alistair & González Pandiella, Alberto & Hall, Stephen, 2011. "The ECB's New Multi-Country Model for the euro area: NMCM - with boundedly rational learning expectations," Working Paper Series 1316, European Central Bank.

    Cited by:

    1. Emilia Mioara CAMPEANU, 2012. "How can be investigated the fiscal policy effects on the Romanian economy?," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economic Sciences, Tibiscus University of Timisoara, vol. 0, pages 80-87, May.
    2. Dieppe, Alistair & González Pandiella, Alberto & Willman, Alpo, 2012. "The ECB's New Multi-Country Model for the euro area: NMCM — Simulated with rational expectations," Economic Modelling, Elsevier, vol. 29(6), pages 2597-2614.
    3. Gadatsch, Niklas & Hauzenberger, Klemens & Stähler, Nikolai, 2015. "German and the rest of euro area fiscal policy during the crisis," Discussion Papers 05/2015, Deutsche Bundesbank.
    4. Angelini, Elena & Bokan, Nikola & Christoffel, Kai & Ciccarelli, Matteo & Zimic, Srečko, 2019. "Introducing ECB-BASE: The blueprint of the new ECB semi-structural model for the euro area," Working Paper Series 2315, European Central Bank.
    5. Alberto Locarno, 2012. "Monetary policy in a model with misspecified, heterogeneous and ever-changing expectations," Temi di discussione (Economic working papers) 888, Bank of Italy, Economic Research and International Relations Area.
    6. Gadatsch, Niklas & Hauzenberger, Klemens & Stähler, Nikolai, 2016. "Fiscal policy during the crisis: A look on Germany and the Euro area with GEAR," Economic Modelling, Elsevier, vol. 52(PB), pages 997-1016.
    7. McAdam, Peter & Lombardo, Giovanni, 2012. "Financial market frictions in a model of the euro area," Working Paper Series 1423, European Central Bank.
    8. Angelini, E. & Dieppe, A. & Pierluigi, B., 2015. "Modelling internal devaluation experiences in Europe: Rational or learning agents?," Journal of Macroeconomics, Elsevier, vol. 43(C), pages 81-92.
    9. Luca Brugnolini, 2018. "Forecasting Deflation Probability in the EA: A Combinatoric Approach," CBM Working Papers WP/01/2018, Central Bank of Malta.
    10. Carlo Altavilla & Domenico Giannone & Michele Lenza, 2014. "The Financial and Macroeconomic Effects of the OMT Announcements," CSEF Working Papers 352, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    11. Dieppe, Alistair & Pandiella, Alberto González & Hall, Stephen & Willman, Alpo, 2013. "Limited information minimal state variable learning in a medium-scale multi-country model," Economic Modelling, Elsevier, vol. 33(C), pages 808-825.
    12. Henry, Jérôme & Zimmermann, Maik & Leber, Miha & Kolb, Markus & Grodzicki, Maciej & Amzallag, Adrien & Vouldis, Angelos & Hałaj, Grzegorz & Pancaro, Cosimo & Gross, Marco & Baudino, Patrizia & Sydow, , 2013. "A macro stress testing framework for assessing systemic risks in the banking sector," Occasional Paper Series 152, European Central Bank.
    13. Barauskaitė Griškevičienė, Kristina & Brand, Claus & Nguyen, Anh Dinh Minh, 2026. "Pandemic-era inflation dynamics in the euro area: the role of policy and non-policy demand and energy and non-energy supply factors," Working Paper Series 3201, European Central Bank.
    14. Eleni Argiri & Stephen G. Hall & Angeliki Momtsia & Daphne Marina Papadopoulou & Ifigeneia Skotida & George S. Tavlas & Yongli Wang, 2024. "An evaluation of the inflation forecasting performance of the European Central Bank, the Federal Reserve, and the Bank of England," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 43(4), pages 932-947, July.
    15. Dieppe, Alistair & Ortega, Eva & D'Agostino, Antonello & Karlsson, Tohmas & Benkovskis, Konstantins & Caivano, Michele & Hurtado, Samuel & Várnai, Tímea, 2011. "Assessing the sensitivity of inflation to economic activity," Working Paper Series 1357, European Central Bank.
    16. Binder, Michael & Lieberknecht, Philipp & Quintana, Jorge & Wieland, Volker, 2017. "Model uncertainty in macroeconomics: On the implications of financial frictions," IMFS Working Paper Series 114, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    17. Bańkowski, Krzysztof, 2023. "Fiscal policy in the semi-structural model ECB-BASE," Working Paper Series 2802, European Central Bank.
    18. Angelini, Elena & Dieppe, Alistair & Pierluigi, Beatrice, 2013. "Learning about wage and price mark-ups in euro area countries," Working Paper Series 1512, European Central Bank.

  7. Willman, Alpo & Dieppe, Alistair & González Pandiella, Alberto, 2011. "The ECB's New Multi-Country Model for the euro area: NMCM - simulated with rational expectations," Working Paper Series 1315, European Central Bank.

    Cited by:

    1. Emilia Mioara CAMPEANU, 2012. "How can be investigated the fiscal policy effects on the Romanian economy?," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economic Sciences, Tibiscus University of Timisoara, vol. 0, pages 80-87, May.
    2. Marek Jarociński & Bartosz Maćkowiak, 2014. "Choosing variables in macroeconomic modelling," Research Bulletin, European Central Bank, vol. 20, pages 5-8.
    3. Albonico, Alice & Calés, Ludovic & Cardani, Roberta & Croitorov, Olga & Ferroni, Filippo & Giovannini, Massimo & Hohberger, Stefan & Pataracchia, Beatrice & Pericoli, Filippo Maria & Raciborski, Rafal, 2019. "Comparing post-crisis dynamics across Euro Area countries with the Global Multi-country model," Economic Modelling, Elsevier, vol. 81(C), pages 242-273.
    4. Cascaldi-Garcia, Danilo & Ferreira, Thiago R.T. & Giannone, Domenico & Modugno, Michele, 2024. "Back to the present: Learning about the euro area through a now-casting model," International Journal of Forecasting, Elsevier, vol. 40(2), pages 661-686.
    5. McAdam, Peter & Lombardo, Giovanni, 2012. "Financial market frictions in a model of the euro area," Working Paper Series 1423, European Central Bank.
    6. Angelini, E. & Dieppe, A. & Pierluigi, B., 2015. "Modelling internal devaluation experiences in Europe: Rational or learning agents?," Journal of Macroeconomics, Elsevier, vol. 43(C), pages 81-92.
    7. Luca Brugnolini, 2018. "Forecasting Deflation Probability in the EA: A Combinatoric Approach," CBM Working Papers WP/01/2018, Central Bank of Malta.
    8. Naohisa Hirakata & Kazutoshi Kan & Akihiro Kanafuji & Yosuke Kido & Yui Kishaba & Tomonori Murakoshi & Takeshi Shinohara, 2019. "The Quarterly Japanese Economic Model (Q-JEM): 2019 version," Bank of Japan Working Paper Series 19-E-7, Bank of Japan.
    9. Kalin Nikolov & Alexander Popov, 2014. "The sovereign-bank nexus," Research Bulletin, European Central Bank, vol. 20, pages 2-4.
    10. Giovanni Bernardo & Emanuele Campiglio, 2014. "A simple model of income, aggregate demand and the process of credit creation by private banks," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 41(3), pages 381-405, August.
    11. Ilori, Ayobami E. & Paez-Farrell, Juan & Thoenissen, Christoph, 2022. "Fiscal policy shocks and international spillovers," European Economic Review, Elsevier, vol. 141(C).
    12. Henry, Jérôme & Zimmermann, Maik & Leber, Miha & Kolb, Markus & Grodzicki, Maciej & Amzallag, Adrien & Vouldis, Angelos & Hałaj, Grzegorz & Pancaro, Cosimo & Gross, Marco & Baudino, Patrizia & Sydow, , 2013. "A macro stress testing framework for assessing systemic risks in the banking sector," Occasional Paper Series 152, European Central Bank.
    13. Angelini, Elena & Ca' Zorzi, Michele & Forster, Katrin, 2014. "External and macroeconomic adjustment in the larger euro area countries," Working Paper Series 1647, European Central Bank.
    14. Barauskaitė Griškevičienė, Kristina & Brand, Claus & Nguyen, Anh Dinh Minh, 2026. "Pandemic-era inflation dynamics in the euro area: the role of policy and non-policy demand and energy and non-energy supply factors," Working Paper Series 3201, European Central Bank.
    15. Anderton, Robert & Elding, Catherine & Haroutunian, Stephan & Jarvis, Valerie & Aranki, Ted & Rusinova, Desislava & Labhard, Vincent & Jacquinot, Pascal & Dieppe, Alistair & Szörfi, Béla, 2014. "Potential output from a euro area perspective," Occasional Paper Series 156, European Central Bank.
    16. Eleni Argiri & Stephen G. Hall & Angeliki Momtsia & Daphne Marina Papadopoulou & Ifigeneia Skotida & George S. Tavlas & Yongli Wang, 2024. "An evaluation of the inflation forecasting performance of the European Central Bank, the Federal Reserve, and the Bank of England," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 43(4), pages 932-947, July.
    17. Alice Albonico & Ludovic Calés & Roberta Cardani & Olga Croitorov & Fabio Di Dio & Filippo Ferroni & Massimo Giovannini & Stefan Hohberger & Beatrice Pataracchia & Filippo Pericoli & Philipp Pfeiffer , 2019. "The Global Multi-Country Model (GM): An Estimated DSGE Model for Euro Area Countries," European Economy - Discussion Papers 102, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    18. Norbert Christopeit & Michael Massmann, 2015. "Estimating Structural Parameters in Regression Models with Adaptive Learning," Tinbergen Institute Discussion Papers 15-106/III, Tinbergen Institute.
    19. Jan Filacek & Ivan Sutoris, 2019. "Inflation Targeting Flexibility: The CNB's Reaction Function under Scrutiny," Research and Policy Notes 2019/02, Czech National Bank, Research and Statistics Department.
    20. Binder, Michael & Lieberknecht, Philipp & Quintana, Jorge & Wieland, Volker, 2017. "Model uncertainty in macroeconomics: On the implications of financial frictions," IMFS Working Paper Series 114, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    21. Angelini, Elena & Dieppe, Alistair & Pierluigi, Beatrice, 2013. "Learning about wage and price mark-ups in euro area countries," Working Paper Series 1512, European Central Bank.
    22. Storm, Servaas & Naastepad, C.W.M., 2015. "Crisis and recovery in the German economy: The real lessons," Structural Change and Economic Dynamics, Elsevier, vol. 32(C), pages 11-24.
    23. Elena Angelini & Michele Ca' Zorzi, 2014. "External and macroeconomic adjustment in Spain and Germany," Research Bulletin, European Central Bank, vol. 20, pages 9-12.

  8. McAdam, Peter & Willman, Alpo & León-Ledesma, Miguel A., 2011. "Aggregation, the skill premium, and the two-level production function," Working Paper Series 1400, European Central Bank.

    Cited by:

    1. Florio, Erminia & Kharazi, Aicha, 2022. "Curtailment of Economic Activity and Labor Inequalities," GLO Discussion Paper Series 1166, Global Labor Organization (GLO).
    2. Rainer Klump & Peter McAdam & Alpo Willman, 2012. "The Normalized Ces Production Function: Theory And Empirics," Journal of Economic Surveys, Wiley Blackwell, vol. 26(5), pages 769-799, December.
    3. Matteo Ghilardi & Raffaele Rossi, 2014. "Aggregate Stability and Balanced-Budget Rules," IMF Working Papers 2014/023, International Monetary Fund.

  9. McAdam, Peter & Willman, Alpo, 2011. "Technology, utilization and inflation: what drives the New Keynesian Phillips Curve?," Working Paper Series 1369, European Central Bank.

    Cited by:

    1. Marek Jarociński & Bartosz Maćkowiak, 2014. "Choosing variables in macroeconomic modelling," Research Bulletin, European Central Bank, vol. 20, pages 5-8.
    2. Bratsiotis, George J. & Robinson, Wayne A., 2016. "Unit Total Costs: An Alternative Marginal Cost Proxy For Inflation Dynamics," Macroeconomic Dynamics, Cambridge University Press, vol. 20(7), pages 1826-1849, October.
    3. Sophocles Mavroeidis & Mikkel Plagborg-M?ller & James H. Stock, 2014. "Empirical Evidence on Inflation Expectations in the New Keynesian Phillips Curve," Journal of Economic Literature, American Economic Association, vol. 52(1), pages 124-188, March.
    4. Christopher J. Nekarda & Valerie A. Ramey, 2013. "The Cyclical Behavior of the Price-Cost Markup," NBER Working Papers 19099, National Bureau of Economic Research, Inc.
    5. Corbellini, Aldo & Magnani, Marco & Morelli, Gianluca, 2021. "Labor market analysis through transformations and robust multivariate models," Socio-Economic Planning Sciences, Elsevier, vol. 73(C).
    6. PETER McADAM & ALPO WILLMAN, 2013. "Technology, Utilization, and Inflation: What Drives the New Keynesian Phillips Curve?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(8), pages 1547-1579, December.
    7. Willman, Alpo & Dieppe, Alistair & Baumann, Ursel & González Pandiella, Alberto, 2014. "Model of the United States economy with learning MUSEL," Working Paper Series 1745, European Central Bank.
    8. Rainer Klump & Peter McAdam & Alpo Willman, 2012. "The Normalized Ces Production Function: Theory And Empirics," Journal of Economic Surveys, Wiley Blackwell, vol. 26(5), pages 769-799, December.
    9. Kalin Nikolov & Alexander Popov, 2014. "The sovereign-bank nexus," Research Bulletin, European Central Bank, vol. 20, pages 2-4.
    10. Xian-Liang Tian, 2016. "Participation in export and Chinese firms’ capacity utilization," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 25(5), pages 757-784, August.
    11. Jakub Growiec & Jakub Muck, 2015. "Isoelastic Elasticity of Substitution Production Functions," Discussion Papers 15-13, University of Copenhagen. Department of Economics.
    12. Matteo F. Ghilardi & Raffaele Rossi, 2014. "Aggregate Stability and Balanced‐Budget Rules," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(8), pages 1787-1809, December.
    13. Milda Norkute, 2015. "Can the sectoral New Keynesian Phillips curve explain inflation dynamics in the Euro Area?," Empirical Economics, Springer, vol. 49(4), pages 1191-1216, December.
    14. Georgios Papadopoulos & Dionysios Chionis & Nikolaos P. Rachaniotis, 2018. "Macro-financial linkages during tranquil and crisis periods: evidence from stressed economies," Risk Management, Palgrave Macmillan, vol. 20(2), pages 142-166, May.
    15. Elena Angelini & Michele Ca' Zorzi, 2014. "External and macroeconomic adjustment in Spain and Germany," Research Bulletin, European Central Bank, vol. 20, pages 9-12.

  10. Klump, Rainer & McAdam, Peter & Willman, Alpo, 2011. "The normalized CES production function: theory and empirics," Working Paper Series 1294, European Central Bank.

    Cited by:

    1. Ioannis Bournakis & Dimitris Christopoulos & Sushanta Mallick, 2018. "Knowledge Spillovers And Output Per Worker: An Industry‐Level Analysis For Oecd Countries," Economic Inquiry, Western Economic Association International, vol. 56(2), pages 1028-1046, April.
    2. Trenczek, Jan & Wacker, Konstantin M., 2023. "Human Capital Misallocation and Output per Worker Differences: Beyond Cobb-Douglas," GLO Discussion Paper Series 1331, Global Labor Organization (GLO).
    3. Ara Jo, 2020. "The Elasticity of Substitution between Clean and Dirty Energy with Technological Bias," CER-ETH Economics working paper series 20/344, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    4. A. Kamaletdinov Sh. & A. Ksenofontov A. & А. Камалетдинов Ш. & А. Ксенофонтов А., 2018. "Моделирование Доходов Социально-Экономических Систем На Основе Производственной Функции // Modeling Of Income Of Socio-Economic Systems On The Basis Of The Production Function," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 22(1), pages 118-127.
    5. Thomas Ziesemer, 2023. "Labour-augmenting technical change data for alternative elasticities of substitution: growth, slowdown, and distribution dynamics," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 32(4), pages 449-475, May.
    6. Cristiano Cantore & Paul Levine & Joseph Pearlman & Bo Yang, 2014. "CES Technology and Business Cycle Fluctuations," School of Economics Discussion Papers 0414, School of Economics, University of Surrey.
    7. Andres Donangelo & François Gourio & Matthias Kehrig & Miguel Palacios, 2017. "The Cross-Section of Labor Leverage and Equity Returns," Working Papers 17-70, Center for Economic Studies, U.S. Census Bureau.
    8. Archanskaia, Liza & Van Biesebroeck, Johannes & Willmann, Gerald, 2020. "Comparative advantage in (non-)routine production," Kiel Working Papers 2154, Kiel Institute for the World Economy.
    9. Daan Steenkamp, 2016. "Factor substitution and productivity in New Zealand," Reserve Bank of New Zealand Discussion Paper Series DP2016/12, Reserve Bank of New Zealand.
    10. Takuma Kunieda & Akihisa Shibata, 2024. "Insurance against Aggregate Shocks," Discussion Paper Series 267, School of Economics, Kwansei Gakuin University.
    11. Jan Trenczek & Konstantin M. Wacker, 2023. "Accounting for cross-country output differences: A sectoral CES perspective," Working Papers 2023.09, International Network for Economic Research - INFER.
    12. Maydell, Richard & Firth, John, 2025. "Tilting the Race Between Humans and AI: The Role of Education and Unemployment Policies," VfS Annual Conference 2025 (Cologne): Revival of Industrial Policy 325460, Verein für Socialpolitik / German Economic Association.
    13. Freire-González, Jaume & Ho, Mun S., 2021. "Voluntary actions in households and climate change mitigation," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 321.
    14. Christopher J. Nekarda & Valerie A. Ramey, 2020. "The Cyclical Behavior of the Price‐Cost Markup," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S2), pages 319-353, December.
    15. Jakub Growiec & Michał Gradzewicz & Jan Hagemejer & Zofia Jankiewicz & Piotr Popowski & Katarzyna Puchalska & Paweł Strzelecki & Joanna Tyrowicz, 2015. "Rola usług rynkowych w procesach rozwojowych gospodarki Polski," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 2, pages 163-193.
    16. Hashimoto, Ken-ichi & Im, Ryonghun & Kunieda, Takuma & Shibata, Akihisa, 2022. "Financial destabilization," Journal of Mathematical Economics, Elsevier, vol. 103(C).
    17. Bretschger, Lucas & Jo, Ara, 2024. "Complementarity between labor and energy: A firm-level analysis," Journal of Environmental Economics and Management, Elsevier, vol. 124(C).
    18. Sebastian Gechert & Tomas Havranek & Zuzana Irsova & Dominika Kolcunova, 2022. "Measuring Capital-Labor Substitution: The Importance of Method Choices and Publication Bias," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 55-82, July.
    19. Friedrich Kreuser & Rulof Burger & Neil Rankin, 2015. "The elasticity of substitution and labour-displacing technical change in post-apartheid South Africa," WIDER Working Paper Series wp-2015-101, World Institute for Development Economic Research (UNU-WIDER).
    20. Paul E. Brockway & Harry Saunders & Matthew K. Heun & Timothy J. Foxon & Julia K. Steinberger & John R. Barrett & Steve Sorrell, 2017. "Energy Rebound as a Potential Threat to a Low-Carbon Future: Findings from a New Exergy-Based National-Level Rebound Approach," Energies, MDPI, vol. 10(1), pages 1-24, January.
    21. Michael Knoblach & Martin Roessler & Patrick Zwerschke, 2020. "The Elasticity of Substitution Between Capital and Labour in the US Economy: A Meta‐Regression Analysis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(1), pages 62-82, February.
    22. Broadberry, Stephen & Ghosal, Sayantan & Proto, Eugenio, 2017. "Anonymity, efficiency wages and technological progress," Journal of Development Economics, Elsevier, vol. 127(C), pages 379-394.
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    161. Haqiqi, Iman & Bahalou Horeh, Marziyeh, 2021. "Assessment of COVID-19 impacts on U.S. counties using the immediate impact model of local agricultural production (IMLAP)," Agricultural Systems, Elsevier, vol. 190(C).
    162. Getachew, Yoseph Y. & Turnovsky, Stephen J., 2015. "Productive government spending and its consequences for the growth–inequality tradeoff," Research in Economics, Elsevier, vol. 69(4), pages 621-640.
    163. Alexeev, Alexander & Good, David H. & Krutilla, Kerry, 2016. "Environmental taxation and the double dividend in decentralized jurisdictions," Ecological Economics, Elsevier, vol. 122(C), pages 90-100.
    164. Temple, Jonathan, 2012. "The calibration of CES production functions," Journal of Macroeconomics, Elsevier, vol. 34(2), pages 294-303.
    165. Kenneth G. Stewart & Jiang Li, 2014. "Factor substitution, factor-augmenting technical progress, and trending factor shares: the Canadian evidence," Econometrics Working Papers 1403, Department of Economics, University of Victoria.

  11. Cantore, Cristiano & León-Ledesma, Miguel A. & McAdam, Peter & Willman, Alpo, 2010. "Shocking stuff: technology, hours, and factor substitution," Working Paper Series 1278, European Central Bank.

    Cited by:

    1. Dieppe, Alistair & González Pandiella, Alberto & Willman, Alpo, 2012. "The ECB's New Multi-Country Model for the euro area: NMCM — Simulated with rational expectations," Economic Modelling, Elsevier, vol. 29(6), pages 2597-2614.
    2. Alessandro Cantelmo & Giovanni Melina, 2020. "Sectoral Labor Mobility and Optimal Monetary Policy," Papers 2010.14668, arXiv.org, revised Nov 2020.
    3. Romain Houssa & Jolan Mohimont & Chris Otrok, 2019. "A Model for International Spillovers to Emerging Markets," CESifo Working Paper Series 7702, CESifo.
    4. Cristiano Cantore & Paul Levine & Joseph Pearlman & Bo Yang, 2014. "CES Technology and Business Cycle Fluctuations," School of Economics Discussion Papers 0414, School of Economics, University of Surrey.
    5. Cristiano Cantore & Filippo Ferroni & Miguel A. Leon-Ledesma, 2018. "The Missing Link: Monetary policy and the labor share," Discussion Papers 1829, Centre for Macroeconomics (CFM).
    6. Olivier CARDI & Romain RESTOUT, 2023. "Why Hours Worked Decline Less After Technology Shocks?," Working Papers of BETA 2023-30, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    7. Daan Steenkamp, 2016. "Factor substitution and productivity in New Zealand," Reserve Bank of New Zealand Discussion Paper Series DP2016/12, Reserve Bank of New Zealand.
    8. Paul Levine & Peter McAdam & Peter Welz, 2013. "On Habit and the Socially Efficient Level of Consumption and Work Effort," School of Economics Discussion Papers 0713, School of Economics, University of Surrey.
    9. Havranek, Tomas & Irsova, Zuzana & Gechert, Sebastian & Kolcunova, Dominika, 2019. "Death to the Cobb-Douglas Production Function? A Meta-Analysis of the Capital-Labor Substitution Elasticity," MetaArXiv 6um5g, Center for Open Science.
    10. Sebastian Gechert & Tomas Havranek & Zuzana Irsova & Dominika Kolcunova, 2022. "Measuring Capital-Labor Substitution: The Importance of Method Choices and Publication Bias," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 55-82, July.
    11. Cantore, C. & Levine, P., 2012. "Getting normalization right: Dealing with ‘dimensional constants’ in macroeconomics," Journal of Economic Dynamics and Control, Elsevier, vol. 36(12), pages 1931-1949.
    12. Faria, João Ricardo & McAdam, Peter, 2015. "Macroeconomic adjustment under regime change: From social contract to Arab Spring," Journal of International Money and Finance, Elsevier, vol. 56(C), pages 1-22.
    13. Cristiano Cantore & Filippo Ferroni & Haroon Mumtaz & Angeliki Theophilopoulou, 2023. "A tail of labor supply and a tale of monetary policy," Discussion Papers 2308, Centre for Macroeconomics (CFM).
    14. Luca Dedola, 2011. "Managing exchange rate misalignment and current account imbalances," Research Bulletin, European Central Bank, vol. 13, pages 2-7.
    15. Sevgi Coskun, 2020. "Technology Shocks and Non-stationary Hours in Emerging Countries and DSVAR," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 14(2), pages 129-163, May.
    16. PETER McADAM & ALPO WILLMAN, 2013. "Technology, Utilization, and Inflation: What Drives the New Keynesian Phillips Curve?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(8), pages 1547-1579, December.
    17. Bertinelli, Luisito & Cardi, Olivier & Restout, Romain, 2022. "Labor market effects of technology shocks biased toward the traded sector," Journal of International Economics, Elsevier, vol. 138(C).
    18. McAdam, Peter & Muck, Jakub & Growiec, Jakub, 2015. "Will the true labor share stand up?," Working Paper Series 1806, European Central Bank.
    19. Rainer Klump & Peter McAdam & Alpo Willman, 2012. "The Normalized Ces Production Function: Theory And Empirics," Journal of Economic Surveys, Wiley Blackwell, vol. 26(5), pages 769-799, December.
    20. Cristiano Cantore & Filippo Ferroni & Miguel A. León-Ledesma, 2012. "The dynamics of hours worked and technology," Working Papers 1238, Banco de España.
    21. McAdam, Peter & Bridji, Slim & Charpe, Matthieu, 2019. "Labor share and growth in the long run," Working Paper Series 2251, European Central Bank.
    22. Nikolaos Charalampidis, 2020. "The U.S. Labor Income Share And Automation Shocks," Economic Inquiry, Western Economic Association International, vol. 58(1), pages 294-318, January.
    23. Michael A. Flor, 2014. "Post Reunification Economic Fluctuations in Germany: A Real Business Cycle Interpretation," Discussion Paper Series 324, Universitaet Augsburg, Institute for Economics.
    24. Matteo Ghilardi & Raffaele Rossi, 2014. "Aggregate Stability and Balanced-Budget Rules," IMF Working Papers 2014/023, International Monetary Fund.
    25. Samuele Ialenti & Guido Pialli, 2024. "The increase in the elasticity of substitution between capital and labour: a repeated cross-country investigation," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 33(3), pages 380-400, April.
    26. Linnemann, Ludger, 2016. "Markups, technology, and capital utilization in the Great Recession," Economics Letters, Elsevier, vol. 142(C), pages 59-63.
    27. Miguel A. Leon-Ledesma & Mathan Satchi, 2011. "The Choice of CES Production Techniques and Balanced Growth," Studies in Economics 1113, School of Economics, University of Kent.
    28. McAdam, Peter & Warne, Anders, 2018. "Euro area real-time density forecasting with financial or labor market frictions," Working Paper Series 2140, European Central Bank.
    29. Michael Flor, 2014. "Post Reunification Economic Fluctuations in Germany: A Real Business Cycle Interpretation," Working Papers 146, Bavarian Graduate Program in Economics (BGPE).
    30. Sebastian Schmidt, 2014. "Dealing with a liquidity trap when government debt matters," Research Bulletin, European Central Bank, vol. 21, pages 8-11.
    31. Cristiano Cantore & Filippo Ferroni & Miguel A León-Ledesma, 2012. "Interpreting the Hours-Technology time-varying relationship," Studies in Economics 1201, School of Economics, University of Kent.
    32. McAdam, Peter & Willman, Alpo, 2008. "Medium run redux: technical change, factor shares and frictions in the euro area," Working Paper Series 915, European Central Bank.
    33. Tyler Atkinson & Michael D. Plante & Alexander W. Richter & Nathaniel A. Throckmorton, 2020. "Complementarity and Macroeconomic Uncertainty," Working Papers 2009, Federal Reserve Bank of Dallas.
    34. Rahul Nath, 2018. "Flexible Labour, Income Effects, and Asset Prices," Economics Series Working Papers 851, University of Oxford, Department of Economics.
    35. Naohisa Hirakata & Yasutaka Koike, 2018. "The Labor Share, Capital-Labor Substitution, and Factor Augmenting Technologies," Bank of Japan Working Paper Series 18-E-20, Bank of Japan.
    36. Sébastien Bock & Idriss Fontaine, 2020. "Routine-Biased Technological Change and Hours Worked over the Business Cycle," PSE Working Papers halshs-02982145, HAL.
    37. Michael Knoblach & Fabian Stöckl, 2020. "What Determines The Elasticity Of Substitution Between Capital And Labor? A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 34(4), pages 847-875, September.
    38. Dongmei Wang & Guangqin Li, 2022. "Will the use of industrial robots promote transformation of export trade modes? Empirical evidence from China," PLOS ONE, Public Library of Science, vol. 17(6), pages 1-18, June.
    39. Zhao, Pan & Hu, Guoheng & Jin, Peizhen, 2023. "Biased technical change, capital deepening, and efficiency of environmental regulations: Evidence from the Chinese provinces," Technological Forecasting and Social Change, Elsevier, vol. 191(C).
    40. Marco Di Pietro & Enrico Saltari, 2018. "Economic Fluctuations in the U.S. and Euro Area: Quantifying the Contribution of Technical Change," Southern Economic Journal, John Wiley & Sons, vol. 85(1), pages 203-216, July.
    41. Growiec, Jakub & McAdam, Peter & Mućk, Jakub, 2018. "Endogenous labor share cycles: Theory and evidence," Journal of Economic Dynamics and Control, Elsevier, vol. 87(C), pages 74-93.
    42. Ko, Jun-Hyung & Kwon, Hyeog Ug, 2015. "Do technology shocks lower hours worked? – Evidence from Japanese industry level data," Journal of Macroeconomics, Elsevier, vol. 44(C), pages 138-157.
    43. Ezekiel Kalipeni & Linda L. Semu & Margaret Asalele Mbilizi, 2012. "The brain drain of health care professionals from sub-Saharan Africa: A geographic perspective," Progress in Development Studies, , vol. 12(2-3), pages 153-171, July.
    44. Miguel A. Leon-Ledesma & Mathan Satchi, 2015. "Appropriate Technology and Balanced Growth," Studies in Economics 1614, School of Economics, University of Kent, revised Nov 2016.
    45. Klein, Mathias & Krause, Christopher, 2015. "Technology-Labor and Fiscal Spending Crowding-in Puzzles: The Role of Interpersonal Comparison," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113075, Verein für Socialpolitik / German Economic Association.
    46. Peter McAdam, 2011. "Technology, hours and factor substitution," Research Bulletin, European Central Bank, vol. 13, pages 8-12.
    47. Kilponen, Juha & Orjasniemi, Seppo & Ripatti, Antti & Verona, Fabio, 2016. "The Aino 2.0 model," Bank of Finland Research Discussion Papers 16/2016, Bank of Finland.
    48. Miguel A. Leon-Ledesma & Mathan Satchi, 2015. "Appropriate Technology and the Labour Share," Studies in Economics 1505, School of Economics, University of Kent, revised Nov 2016.
    49. Mr. Cristiano Cantore & Mr. Paul L Levine & Mr. Giovanni Melina, 2013. "A Fiscal Stimulus and Jobless Recovery," IMF Working Papers 2013/017, International Monetary Fund.
    50. Drago, Bergholt & Furlanetto, Francesco & Faccioli, Nicolò Maffei, 2019. "The decline of the labor share: new empirical evidence," Working Paper 2019/18, Norges Bank.
    51. Gechert, Sebastian & Havranek, Tomas & Irsova, Zuzana & Kolcunova, Dominika, 2019. "Death to the Cobb-Douglas Production Function? A Quantitative Survey of the Capital-Labor Substitution Elasticity," MPRA Paper 95949, University Library of Munich, Germany.
    52. Jay Hyun & Ryan Kim & Byoungchan Lee, 2024. "Business Cycles With Cyclical Returns To Scale," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 65(1), pages 253-282, February.
    53. McAdam, Peter & Willman, Alpo, 2013. "Medium Run Redux," Macroeconomic Dynamics, Cambridge University Press, vol. 17(4), pages 695-727, June.
    54. Temple, Jonathan, 2012. "The calibration of CES production functions," Journal of Macroeconomics, Elsevier, vol. 34(2), pages 294-303.

  12. Grégory LEVIEUGE & Cristina BADARAU-SEMENESCU, 2010. "Which policy-mix to mitigate the effects of the financial heterogeneity in a monetary union?," EcoMod2010 259600105, EcoMod.

    Cited by:

    1. Cristina Badarau & Alexandra Popescu, 2015. "Monetary policy and financial stability: what role for the interest rate?," International Economics and Economic Policy, Springer, vol. 12(3), pages 359-374, September.
    2. Julia Durcova, 2021. "The Impact of Interest Rate Transmission Channel on the Prices Development in the Eurozone Countries," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 17(2), pages 23-35.
    3. Cristina Badarau & Eleonora Cavallaro & Stefania Stancu, 2025. "Corporate debt structure and monetary policy transmission: a general equilibrium approach," Working Papers 2025.21, International Network for Economic Research - INFER.

  13. McAdam, Peter & Willman, Alpo & León-Ledesma, Miguel A., 2010. "In dubio pro CES - Supply estimation with mis-specified technical change," Working Paper Series 1175, European Central Bank.

    Cited by:

    1. McAdam, Peter & Willman, Alpo, 2011. "Technology, utilization and inflation: what drives the New Keynesian Phillips Curve?," Working Paper Series 1369, European Central Bank.
    2. Timothy J Garrett & Matheus Grasselli & Stephen Keen, 2020. "Past world economic production constrains current energy demands: Persistent scaling with implications for economic growth and climate change mitigation," PLOS ONE, Public Library of Science, vol. 15(8), pages 1-19, August.
    3. Timothy J. Garrett & Matheus R. Grasselli & Stephen Keen, 2020. "Past production constrains current energy demands: persistent scaling in global energy consumption and implications for climate change mitigation," Papers 2006.03718, arXiv.org.
    4. McAdam, Peter & Willman, Alpo & León-Ledesma, Miguel A., 2011. "Aggregation, the skill premium, and the two-level production function," Working Paper Series 1400, European Central Bank.
    5. Rainer Klump & Peter McAdam & Alpo Willman, 2012. "The Normalized Ces Production Function: Theory And Empirics," Journal of Economic Surveys, Wiley Blackwell, vol. 26(5), pages 769-799, December.
    6. Song, Malin & Wang, Shuhong, 2016. "Can employment structure promote environment-biased technical progress?," Technological Forecasting and Social Change, Elsevier, vol. 112(C), pages 285-292.
    7. Matteo Ghilardi & Raffaele Rossi, 2014. "Aggregate Stability and Balanced-Budget Rules," IMF Working Papers 2014/023, International Monetary Fund.
    8. Zhu, Xuehong & Zeng, Anqi & Zhong, Meirui & Huang, Jianbai, 2021. "Elasticity of substitution and biased technical change in the CES production function for China's metal-intensive industries," Resources Policy, Elsevier, vol. 73(C).
    9. Alpo Willman & Miguel A. León-Ledesma & Peter McAdam, 2012. "Explaining the Skill Premium: Technical Change or Capita-Skill Complements?," EcoMod2012 4356, EcoMod.
    10. Szomolányi, Karol & Lukáčik, Martin & Lukáčiková, Adriana, 2018. "Elasticity of Substitution in Post-Communist Economies," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2018), Split, Croatia, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Split, Croatia, 6-8 September 2018, pages 105-111, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    11. Cristiano Cantore & Paul Levine & Giovanni Melina, 2011. "A Fiscal Stimulus and Jobless Recovery," School of Economics Discussion Papers 1111, School of Economics, University of Surrey.
    12. Jakub Growiec, 2012. "The World Technology Frontier: What Can We Learn from the US States?-super-," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 74(6), pages 777-807, December.

  14. Alistair DIEPPE & Alberto GONZÁLEZ PANDIELLA & Stephen HALL & Alpo WILLMAN, 2010. "MEMBER: Multi-Country Euro Area Model with Boundedly Estimated Rationality," EcoMod2010 259600046, EcoMod.

    Cited by:

  15. McAdam, Peter & Willman, Alpo & León-Ledesma, Miguel A., 2009. "Identifying the elasticity of substitution with biased technical change," Working Paper Series 1001, European Central Bank.

    Cited by:

    1. Zhenqiu Wu & Biqing Yue & Yue Dai & Yujin Ge & Guangmei Lu & Fei Zu, 2024. "The influence of biased technical progress on employment scale of the circulation industry: Evidence from China," PLOS ONE, Public Library of Science, vol. 19(3), pages 1-25, March.
    2. Shuifeng Hong & Yanwen Han & Yimin Luo & Yao Zhang, 2026. "Critical metal price fluctuation, biased technological progress and total factor productivity of new energy battery enterprises," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 39(1), pages 135-151, March.
    3. Ali Zeytoon-Nejad & Barry Goodwin, 2025. "Econometric Modeling of Input-Driven Output Risk through a Versatile CES Production Function," Papers 2512.20910, arXiv.org.
    4. Stephan B. Bruns & Alessio Moneta & David I. Stern, 2019. "Estimating the Economy-Wide Rebound Effect Using Empirically Identified Structural Vector Autoregressions," LEM Papers Series 2019/27, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    5. Alessandro Mistretta & Francesco Zollino, 2021. "Recent Trends in Economic Activity and TFP in Italy with a Focus on Embodied Technical Progress," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 7(1), pages 79-107, March.
    6. Thomas H. Mayor, 2015. "Income Inequality: Piketty and the Neo-Marxist Revival," Cato Journal, Cato Journal, Cato Institute, vol. 35(1), pages 95-116, Winter.
    7. Alistair DIEPPE & Alberto GONZÁLEZ PANDIELLA & Stephen HALL & Alpo WILLMAN, 2010. "MEMBER: Multi-Country Euro Area Model with Boundedly Estimated Rationality," EcoMod2010 259600046, EcoMod.
    8. Dieppe, Alistair & González Pandiella, Alberto & Willman, Alpo, 2012. "The ECB's New Multi-Country Model for the euro area: NMCM — Simulated with rational expectations," Economic Modelling, Elsevier, vol. 29(6), pages 2597-2614.
    9. Serrano-Quintero, Rafael, 2023. "The aggregate productivity slowdown: A system approach," Economics Letters, Elsevier, vol. 223(C).
    10. Trenczek, Jan & Wacker, Konstantin M., 2023. "Human Capital Misallocation and Output per Worker Differences: Beyond Cobb-Douglas," GLO Discussion Paper Series 1331, Global Labor Organization (GLO).
    11. Ara Jo, 2020. "The Elasticity of Substitution between Clean and Dirty Energy with Technological Bias," CER-ETH Economics working paper series 20/344, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    12. Xueli Wang & Caizhi Sun & Song Wang & Zhixiong Zhang & Wei Zou, 2018. "Going Green or Going Away? A Spatial Empirical Examination of the Relationship between Environmental Regulations, Biased Technological Progress, and Green Total Factor Productivity," IJERPH, MDPI, vol. 15(9), pages 1-23, September.
    13. Ken-ichi Hashimoto & Ryonghun Im & Takuma Kunieda & Akihisa Shibata, 2021. "Financial Destabilization," KIER Working Papers 1054, Kyoto University, Institute of Economic Research.
    14. Song, Yi & Cheng, Jinhua & Zhang, Yijun & Dai, Tao & Huang, Jianbai, 2021. "Direct and indirect effects of heterogeneous technical change on metal consumption intensity: Evidence from G7 and BRICS countries," Resources Policy, Elsevier, vol. 71(C).
    15. Daniel Graydon Stephenson, 2023. "Multi-battle contests over complementary battlefields," Working Papers 2303, VCU School of Business, Department of Economics.
    16. Thomas Ziesemer, 2023. "Labour-augmenting technical change data for alternative elasticities of substitution: growth, slowdown, and distribution dynamics," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 32(4), pages 449-475, May.
    17. Cristiano Cantore & Paul Levine & Joseph Pearlman & Bo Yang, 2014. "CES Technology and Business Cycle Fluctuations," School of Economics Discussion Papers 0414, School of Economics, University of Surrey.
    18. McAdam, Peter & Willman, Alpo, 2011. "Technology, utilization and inflation: what drives the New Keynesian Phillips Curve?," Working Paper Series 1369, European Central Bank.
    19. Paul L. E. Grieco & Shengyu Li & Hongsong Zhang, 2022. "Input prices, productivity, and trade dynamics: long‐run effects of liberalization on Chinese paint manufacturers," RAND Journal of Economics, RAND Corporation, vol. 53(3), pages 516-560, September.
    20. Andres Donangelo & François Gourio & Matthias Kehrig & Miguel Palacios, 2017. "The Cross-Section of Labor Leverage and Equity Returns," Working Papers 17-70, Center for Economic Studies, U.S. Census Bureau.
    21. Frédéric Reynés, 2019. "The Cobb-Douglas function as a flexible function: A new perspective on homogeneous functions through the lens of output elasticities," Sciences Po Economics Publications (main) hal-03403639, HAL.
    22. McAdam, Peter & Christopoulos, Dimitris, 2015. "Efficiency, Inefficiency and the MENA Frontier," Working Paper Series 1757, European Central Bank.
    23. Lucciano Villacorta, 2016. "Estimating Country Heterogeneity in Capital - Labor Substitution Using Panel Data," Working Papers Central Bank of Chile 788, Central Bank of Chile.
    24. Joao R. Faria & Rajeev K. Goel & Michael A. Nelson, 2024. "Does capacity utilization crowd‐out research activity? Cross‐national evidence from firm‐level data," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 45(1), pages 161-173, January.
    25. Miguel A León-Ledesma & Peter McAdam & Alpo Willman, 2012. "Non-Balanced Growth and Production Technology Estimation," Studies in Economics 1204, School of Economics, University of Kent.
    26. Alvarez-Cuadrado, Francisco & Long, Ngo Van & Poschke, Markus, 2015. "Capital-Labor Substitution, Structural Change and the Labor Income Share," IZA Discussion Papers 8941, IZA Network @ LISER.
    27. Dimitris Christopoulos & Peter McAdam, 2012. "Openness, Efficiency and Technology: An Industry Assessment," School of Economics Discussion Papers 0812, School of Economics, University of Surrey.
    28. Akaev, Askar & Devezas, Tessaleno & Ichkitidze, Yuri & Sarygulov, Askar, 2021. "Forecasting the labor intensity and labor income share for G7 countries in the digital age," Technological Forecasting and Social Change, Elsevier, vol. 167(C).
    29. Clemens Struck & Adnan Velic, 2017. "Automation, New Technology, and Non-Homothetic Preferences," Trinity Economics Papers tep1217, Trinity College Dublin, Department of Economics.
    30. Daan Steenkamp, 2016. "Factor substitution and productivity in New Zealand," Reserve Bank of New Zealand Discussion Paper Series DP2016/12, Reserve Bank of New Zealand.
    31. Astrid Kander & David I. Stern, 2013. "Economic Growth and the Transition from Traditional to Modern Energy in Sweden," CAMA Working Papers 2013-65, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    32. Takuma Kunieda & Akihisa Shibata, 2024. "Insurance against Aggregate Shocks," Discussion Paper Series 267, School of Economics, Kwansei Gakuin University.
    33. Peter McAdam & Jakub Muck & Jakub Growiec, 2015. "Endogenous Labor Share Cycles: Theory and Evidence," 2015 Meeting Papers 62, Society for Economic Dynamics.
    34. Mauro Caselli & Arpita Chatterjee & Shengyu Li, 2026. "Productivity and Quality of Multi-product Firms," International Finance Discussion Papers 1430, Board of Governors of the Federal Reserve System (U.S.).
    35. Paul Levine & Peter McAdam & Peter Welz, 2013. "On Habit and the Socially Efficient Level of Consumption and Work Effort," School of Economics Discussion Papers 0713, School of Economics, University of Surrey.
    36. Ezra Oberfield & Devesh Raval, 2021. "Micro Data and Macro Technology," Econometrica, Econometric Society, vol. 89(2), pages 703-732, March.
    37. Jan Trenczek & Konstantin M. Wacker, 2023. "Accounting for cross-country output differences: A sectoral CES perspective," Working Papers 2023.09, International Network for Economic Research - INFER.
    38. Saltari, Enrico & Federici, Daniela, 2014. "Elasticity of substitution and the slowdown of the Italian productivity," MPRA Paper 58302, University Library of Munich, Germany.
    39. Ara Jo & Alena Miftakhova, 2022. "How Constant is Constant Elasticity of Substitution? Endogenous Substitution between Clean and Dirty Energy," CER-ETH Economics working paper series 22/369, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    40. Colin Caines & Florian Hoffmann & Gueorgui Kambourov, 2026. "Occupational Complexity, Capital-Skill Complementarity, and the Evolution of U.S. Wage Inequality: A Quantitative Analysis," Working Papers tecipa-825, University of Toronto, Department of Economics.
    41. Luisito BERTINELLI & Olivier CARDI & Romain RESTOUT, 2021. "Labor Market Effects Of Technology Shocks Biased Toward The Traded Sector," Working Papers of BETA 2021-09, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    42. Havranek, Tomas & Irsova, Zuzana & Gechert, Sebastian & Kolcunova, Dominika, 2019. "Death to the Cobb-Douglas Production Function? A Meta-Analysis of the Capital-Labor Substitution Elasticity," MetaArXiv 6um5g, Center for Open Science.
    43. Benjamin Bridgman, 2013. "Home Productivity," BEA Working Papers 0091, Bureau of Economic Analysis.
    44. Francisco Alvarez-Cuadrado & Ngo Van Long & Markus Poschke, 2016. "Capital-Labor Substitution, Structural Change and Growth," CESifo Working Paper Series 5928, CESifo.
    45. Bandyopadhyay, Sujan & Ferraro, Domenico, 2025. "Persistence of labor share fluctuations and overshooting," Journal of Economic Dynamics and Control, Elsevier, vol. 180(C).
    46. Lawrence E. Blume & Steven N. Durlauf, 2015. "Capital in the Twenty-First Century: A Review Essay," Journal of Political Economy, University of Chicago Press, vol. 123(4), pages 749-777.
    47. Ma, Chunbo & Stern, David I., 2016. "Long-run estimates of interfuel and interfactor elasticities," Resource and Energy Economics, Elsevier, vol. 46(C), pages 114-130.
    48. Zhang, Hongsong, 2019. "Non-neutral technology, firm heterogeneity, and labor demand," Journal of Development Economics, Elsevier, vol. 140(C), pages 145-168.
    49. Alessio Moro & Solmaz Moslehi & Satoshi Tanaka, 2016. "Does Home Production Drive Structural Transformation?," CAMA Working Papers 2016-19, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    50. Sebastian Gechert & Tomas Havranek & Zuzana Irsova & Dominika Kolcunova, 2022. "Measuring Capital-Labor Substitution: The Importance of Method Choices and Publication Bias," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 55-82, July.
    51. Michael Knoblach & Martin Roessler & Patrick Zwerschke, 2020. "The Elasticity of Substitution Between Capital and Labour in the US Economy: A Meta‐Regression Analysis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(1), pages 62-82, February.
    52. Marwil J. Dávila-Fernández, 2018. "Alternative Approaches to Technological Change when Growth is BoPC," Department of Economics University of Siena 795, Department of Economics, University of Siena.
    53. Luca Zamparelli, 2011. "Induced Innovation, Endogenous Growth, and Income Distribution: a Model along Classical Lines," Working Papers CELEG 1102, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    54. Feijoo Moreira, Sergio, 2022. "Inside the decline of the labor share: Technical change, market power, and structural change," Journal of Economic Dynamics and Control, Elsevier, vol. 145(C).
    55. Joachim Hubmer, 2019. "The Race Between Preferences and Technology," 2019 Meeting Papers 1430, Society for Economic Dynamics.
    56. Crucitti, Francesca & Lecca, Patrizio & Monfort, Philippe & Salotti, Simone, 2025. "Short and longer-term effects of European regional policy," Economic Analysis and Policy, Elsevier, vol. 86(C), pages 1748-1765.
    57. Kristkova, Z. Smeets & Gardebroek, K. & van Dijk, M. & van Meijl, H., 2015. "The impact of R&D on factor-augmenting technical change- an empirical assessment at the sector level," 2015 Conference, August 9-14, 2015, Milan, Italy 230229, International Association of Agricultural Economists.
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    207. Miguel A. Leon-Ledesma & Mathan Satchi, 2015. "Appropriate Technology and Balanced Growth," Studies in Economics 1614, School of Economics, University of Kent, revised Nov 2016.
    208. Takeuchi, Fumihide, 2023. "Intermediate goods-skill complementarity and income distribution," MPRA Paper 116372, University Library of Munich, Germany.
    209. Loukas Karabarbounis & Brent Neiman, 2013. "The Global Decline of the Labor Share," NBER Working Papers 19136, National Bureau of Economic Research, Inc.
    210. de la Fonteijne, Marcel R., 2018. "Why the concept of Hicks, Harrod, Solow neutral and even non-neutral augmented technical progress is flawed in principle in any economic model," MPRA Paper 107730, University Library of Munich, Germany.
    211. Miguel A. León-Ledesma & Peter McAdam & Alpo Willman, 2015. "Production Technology Estimates and Balanced Growth," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 77(1), pages 40-65, February.
    212. Stern, David I., 2020. "How large is the economy-wide rebound effect?," Energy Policy, Elsevier, vol. 147(C).
    213. Irmen Andreas, 2014. "Real factor prices and factor-augmenting technical change," The B.E. Journal of Macroeconomics, De Gruyter, vol. 14(1), pages 661-687, January.
    214. Jakub Growiec, 2013. "On the measurement of technological progress across countries," Bank i Kredyt, Narodowy Bank Polski, vol. 44(5), pages 467-504.
    215. Ara Jo & Christos Karydas, 2023. "Firm Heterogeneity, Industry Dynamics and Climate Policy," CER-ETH Economics working paper series 23/378, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    216. Caunedo, Julieta & Keller, Elisa & Jaume, David, 2021. "Occupational Exposure to Capital-Embodied Technical Change," CEPR Discussion Papers 15759, Centre for Economic Policy Research.
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    218. Bournakis, Ioannis & Christopoulos, Dimitris & Mallick, Sushanta, 2015. "Knowledge Spillovers and Output per Worker: An Industry-level Analysis for OECD Countries," MPRA Paper 84948, University Library of Munich, Germany, revised 05 Oct 2016.
    219. Alessandro Mistretta & Francesco Zollino, 0. "Recent Trends in Economic Activity and TFP in Italy with a Focus on Embodied Technical Progress," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 0, pages 1-29.
    220. Roger McCain, 2014. "The Piketty Curve and the Elasticity of Substitution," School of Economics Working Paper Series 2014-8, LeBow College of Business, Drexel University.
    221. Ramón López & Sang Won Yoon, 2013. "Sustainable Economic Growth: Structural Transformation with Consumption Flexibility," Working Papers wp375, University of Chile, Department of Economics.
    222. Toubal, Farid & Harrigan, James & Reshef, Ariell, 2021. "Techies, Trade, and Skill-Biased Productivity," CEPR Discussion Papers 15815, Centre for Economic Policy Research.
    223. Clemens C. Struck, 2017. "On the Interaction of Growth, Trade and International Macroeconomics," Working Papers 201724, School of Economics, University College Dublin.
    224. Jakub Growiec, 2019. "The Hardware-Software Model: A New Conceptual Framework of Production, R&D, and Growth with AI," KAE Working Papers 2019-042, Warsaw School of Economics, Collegium of Economic Analysis.
    225. Saumik Paul & Yoko Oishi, 2018. "A Primer on the Drivers of Labor Income Share," Working Papers id:12948, eSocialSciences.
    226. Daniel Berkowitz, 2016. "Recasting the Iron Rice Bowl: The Reform of China's State Owned Enterprises," Working Paper 5858, Department of Economics, University of Pittsburgh.
    227. Paul Grieco & Hongsong Zhang & Shengyu Li, 2018. "Input Prices, Productivity and Trade Dynamics: Long-run Effects of Liberalization on Chinese Paint Manufactures," 2018 Meeting Papers 874, Society for Economic Dynamics.
    228. Casas, Pablo & Christou, Tryfonas & García Rodríguez, Abián & Heidelk, Tillmann & Lazarou, Nicholas Joseph & Monfort, Philippe & Salotti, Simone, 2024. "The updated RHOMOLO impact assessment of the 2014-2020 European cohesion policy (including REACT-EU)," MPRA Paper 122873, University Library of Munich, Germany.
    229. Patrizio Lecca & Javier Barbero Jimenez & Martin Aaroe Christensen & Andrea Conte & Francesco Di Comite & Jorge Diaz-Lanchas & Olga Diukanova & Giovanni Mandras & Damiaan Persyn & Stylianos Sakkas, 2018. "RHOMOLO V3:A Spatial Modelling Framework," JRC Research Reports JRC111861, Joint Research Centre.
    230. Bournakis, Ioannis & Christopoulos, Dimitris & Mallick, Sushanta, 2015. "Knowledge Spillovers, Absorptive Capacity and Growth: An Industry-level Analysis for OECD Countries," MPRA Paper 63542, University Library of Munich, Germany.
    231. Agustin Velasquez, 2023. "Production Technology, Market Power, and the Decline of the Labor Share," IMF Working Papers 2023/032, International Monetary Fund.
    232. Gonzalez, Ignacio & Trivin, Pedro, 2019. "The Global Rise of Asset Prices and the Decline of the Labor Share," MPRA Paper 94587, University Library of Munich, Germany.
    233. Adnan Velic, 2023. "On Finance's Disparate Labor Share Dynamics: A Neoclassical Perspective," Trinity Economics Papers tep1523new, Trinity College Dublin, Department of Economics, revised Feb 2026.
    234. Miguel A. Leon-Ledesma & Mathan Satchi, 2015. "Appropriate Technology and the Labour Share," Studies in Economics 1505, School of Economics, University of Kent, revised Nov 2016.
    235. Bae-Geun Kim, 2016. "Explaining movements of the labor share in the Korean economy: factor substitution, markups and bargaining power," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 14(3), pages 327-352, September.
    236. Jongwoo Choi & Seongil Jo & Jaeoh Kim, 2025. "A Bayesian Time-Varying Coefficient Model for Cobb–Douglas Production Function," Computational Economics, Springer;Society for Computational Economics, vol. 65(3), pages 1429-1455, March.
    237. Jakir Hussain & Jean-Thomas Bernard, 2016. "Flexible Functional Forms and Curvature Conditions: Parametric Productivity Estimation in Canadian and U.S. Manufacturing Industries," Working Papers 1612e, University of Ottawa, Department of Economics.
    238. Wei, Wei & Mushtaq, Zulqarnain & Sharif, Maimoona & Zeng, Xiaowu & Wan-Li, Zhang & Qaisrani, Mumtaz A., 2020. "Evaluating the coal rebound effect in energy intensive industries of China," Energy, Elsevier, vol. 207(C).
    239. Sara Moreira, 2018. "The Role of Sectoral Composition in the Evolution of the Skill Wage Premium," 2018 Meeting Papers 850, Society for Economic Dynamics.
    240. Chen, Xi, 2017. "Biased Technical Change, Scale, And Factor Substitution In U.S. Manufacturing Industries," Macroeconomic Dynamics, Cambridge University Press, vol. 21(2), pages 488-514, March.
    241. Simon Koesler & Michael Schymura, 2012. "Substitution Elasticities for CGE Models," EcoMod2012 4010, EcoMod.
    242. Miguel A. León-Ledesma & Dimitris Christopoulos, 2016. "Misallocation, Access to Finance, and Public Credit: Firm-Level Evidence," Asian Development Review, MIT Press, vol. 33(2), pages 119-143, September.
    243. Serletis, Apostolos & Xu, Libo, 2022. "Interfuel substitution: A copula approach," Journal of Commodity Markets, Elsevier, vol. 28(C).
    244. Christian Bredemeier & Falko Juessen & Roland Winkler, 2020. "Fiscal Policy and Occupational Employment Dynamics," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(6), pages 1527-1563, September.
    245. Grieco, Paul L. E. & Li, Shengyu & Zhang, Hongsong, 2015. "Multi-Dimensional Effects of International Trade: The Experience of Chinese Manufacturers," RIEI Working Papers 2015-05, Xi'an Jiaotong-Liverpool University, Research Institute for Economic Integration.
    246. Del Río, Fernando & Rebelo, Francisco, 2025. "OECD labour share trends: Factor efficiency vs. market distortions in a neoclassical framework," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 2554-2591.
    247. Yazid Dissou & Lilia Karnizova & Qian Sun, 2015. "Industry-level Econometric Estimates of Energy-Capital-Labor Substitution with a Nested CES Production Function," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 43(1), pages 107-121, March.
    248. Elena Crivellaro & Aikaterini Karadimitropoulou, 2019. "The role of financial constraints on labour share developments: macro- and micro-level evidence," Working Papers 257, Bank of Greece.
    249. Lagomarsino, Elena, 2020. "Estimating elasticities of substitution with nested CES production functions: Where do we stand?," Energy Economics, Elsevier, vol. 88(C).
    250. Mallick, Debdulal, 2012. "The role of the elasticity of substitution in economic growth: A cross-country investigation," Labour Economics, Elsevier, vol. 19(5), pages 682-694.
    251. Drago, Bergholt & Furlanetto, Francesco & Faccioli, Nicolò Maffei, 2019. "The decline of the labor share: new empirical evidence," Working Paper 2019/18, Norges Bank.
    252. McAdam, Peter & Willman, Alpo, 2013. "Medium Run Redux," Macroeconomic Dynamics, Cambridge University Press, vol. 17(4), pages 695-727, June.
    253. Jakub Growiec, 2012. "The World Technology Frontier: What Can We Learn from the US States?-super-," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 74(6), pages 777-807, December.
    254. Growiec, Jakub, 2013. "A microfoundation for normalized CES production functions with factor-augmenting technical change," Journal of Economic Dynamics and Control, Elsevier, vol. 37(11), pages 2336-2350.
    255. Matthieu Lemoine & Gian Luigi Mazzi & Paola Monperrus-Veroni & Frédéric Reynes, 2010. "A new production function estimate of the euro area output gap This paper is based on a report for Eurostat: 'Real time estimation of potential output, output gap, NAIRU and Phillips curve for Euro-zone', part of the Advanced statistical and economet," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 29(1-2), pages 29-53.
    256. Grégory LEVIEUGE & Cristina BADARAU-SEMENESCU, 2010. "Which policy-mix to mitigate the effects of the financial heterogeneity in a monetary union?," EcoMod2010 259600105, EcoMod.
    257. Camiña, Ester & Díaz-Chao, Ángel & Torrent-Sellens, Joan, 2020. "Automation technologies: Long-term effects for Spanish industrial firms," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    258. Eleftherios Giovanis & Öznur Özdamar, 2022. "Productivity and Resource Misallocation: Empirical Findings from Firms in the Middle East and North Africa (MENA) Region and Turkey," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 9(1), pages 1-37, January.
    259. Temple, Jonathan, 2012. "The calibration of CES production functions," Journal of Macroeconomics, Elsevier, vol. 34(2), pages 294-303.
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  16. McAdam, Peter & Willman, Alpo, 2008. "Medium run redux: technical change, factor shares and frictions in the euro area," Working Paper Series 915, European Central Bank.

    Cited by:

    1. Alistair DIEPPE & Alberto GONZÁLEZ PANDIELLA & Stephen HALL & Alpo WILLMAN, 2010. "MEMBER: Multi-Country Euro Area Model with Boundedly Estimated Rationality," EcoMod2010 259600046, EcoMod.
    2. Helmut Hofer & Torsten Schmidt & Klaus Weyerstrass, 2010. "Practice and prospects of medium-term economic forecasting," NRN working papers 2010-12, The Austrian Center for Labor Economics and the Analysis of the Welfare State, Johannes Kepler University Linz, Austria.
    3. Miguel A. León-Ledesma & Peter McAdam & Alpo Willman, 2010. "Identifying the Elasticity of Substitution with Biased Technical Change," American Economic Review, American Economic Association, vol. 100(4), pages 1330-1357, September.
    4. Dieppe, Alistair & Pandiella, Alberto González & Hall, Stephen & Willman, Alpo, 2013. "Limited information minimal state variable learning in a medium-scale multi-country model," Economic Modelling, Elsevier, vol. 33(C), pages 808-825.
    5. Piero Ferri, 2011. "Macroeconomics of Growth Cycles and Financial Instability," Books, Edward Elgar Publishing, number 14260.
    6. Niels Kemper & Dierk Herzer & Luca Zamparelli, 2011. "Balanced growth and structural breaks: evidence for Germany," Empirical Economics, Springer, vol. 40(2), pages 409-424, April.
    7. McAdam, Peter & Willman, Alpo, 2007. "Phillips-Curve Dynamics: Mark-Up Cyclicality, Effective Hours and Regime-Dependency," Kiel Working Papers 1359, Kiel Institute for the World Economy.

  17. McAdam, Peter & Willman, Alpo, 2007. "State-dependency and firm-level optimization: a contribution to Calvo price staggering," Working Paper Series 806, European Central Bank.

    Cited by:

    1. Alistair DIEPPE & Alberto GONZÁLEZ PANDIELLA & Stephen HALL & Alpo WILLMAN, 2010. "MEMBER: Multi-Country Euro Area Model with Boundedly Estimated Rationality," EcoMod2010 259600046, EcoMod.
    2. Dieppe, Alistair & González Pandiella, Alberto & Willman, Alpo, 2012. "The ECB's New Multi-Country Model for the euro area: NMCM — Simulated with rational expectations," Economic Modelling, Elsevier, vol. 29(6), pages 2597-2614.
    3. Gulenkov, Ilya, 2025. "Fiscal multipliers, trend inflation, and endogenous price stickiness: Evidence from the U.S," Journal of Macroeconomics, Elsevier, vol. 86(C).
    4. Dieppe, Alistair & Pandiella, Alberto González & Hall, Stephen & Willman, Alpo, 2013. "Limited information minimal state variable learning in a medium-scale multi-country model," Economic Modelling, Elsevier, vol. 33(C), pages 808-825.
    5. Angelini, Elena & Dieppe, Alistair & Pierluigi, Beatrice, 2013. "Learning about wage and price mark-ups in euro area countries," Working Paper Series 1512, European Central Bank.
    6. Robert Anderton & Boele Bonthuis, 2015. "Downward Wage Rigidities in the Euro Area," Discussion Papers 2015-09, University of Nottingham, GEP.
    7. Colin Ellis, 2009. "Do supermarket prices change from week to week?," Bank of England Staff Working Paper series 378, Bank of England.
    8. Timo Henckel & Gordon D. Menzies & Daniel J. Zizzo, 2010. "Threshold Pricing in a Noisy World," CAMA Working Papers 2010-01, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.

  18. Willman, Alpo, 2007. "Sequential optimization, front-loaded information, and U.S. consumption," Working Paper Series 765, European Central Bank.

    Cited by:

    1. Alistair DIEPPE & Alberto GONZÁLEZ PANDIELLA & Stephen HALL & Alpo WILLMAN, 2010. "MEMBER: Multi-Country Euro Area Model with Boundedly Estimated Rationality," EcoMod2010 259600046, EcoMod.
    2. Dieppe, Alistair & González Pandiella, Alberto & Willman, Alpo, 2012. "The ECB's New Multi-Country Model for the euro area: NMCM — Simulated with rational expectations," Economic Modelling, Elsevier, vol. 29(6), pages 2597-2614.
    3. McAdam, Peter & Faria, Joao Ricardo, 2012. "Anticipation of future consumption: a monetary perspective," Working Paper Series 1448, European Central Bank.
    4. Vestin, David & Lombardo, Giovanni, 2007. "Welfare implications of Calvo vs. Rotemberg pricing assumptions," Working Paper Series 770, European Central Bank.
    5. Dieppe, Alistair & Pandiella, Alberto González & Hall, Stephen & Willman, Alpo, 2013. "Limited information minimal state variable learning in a medium-scale multi-country model," Economic Modelling, Elsevier, vol. 33(C), pages 808-825.
    6. Alistair Dieppe & Alberto González Pandiella & Stephen Hall & Alpo Willman, 2011. "The ECB's New Multi-Country Model for the Euro area: NMCM - with Boundedly Rational Learning Expectations," Discussion Papers in Economics 11/27, Division of Economics, School of Business, University of Leicester.

  19. Willman, Alpo & Whelan, Karl & Altissimo, Filippo & Georgiou, Evaggelia & Sastre, Teresa & Valderrama, Maria Teresa & Sterne, Gabriel & Stocker, Marc & Weth, Mark, 2005. "Wealth and asset price effects on economic activity," Occasional Paper Series 29, European Central Bank.

    Cited by:

    1. Aßmuth, Pascal, 2015. "Stock price related financial fragility and growth patterns," Center for Mathematical Economics Working Papers 539, Center for Mathematical Economics, Bielefeld University.
    2. Ciarlone, Alessio, 2011. "Housing wealth effect in emerging economies," Emerging Markets Review, Elsevier, vol. 12(4), pages 399-417.
    3. Nicola Anderson & Martin Brooke & Michael Hume & Miriam Kürtösiová, 2015. "Financial Stability Paper 33: A European Capital Markets Union: implications for growth and stability," Bank of England Financial Stability Papers 33, Bank of England.
    4. Valérie Chauvin & Damette, O., 2010. "Wealth effects: the French case," Working papers 276, Banque de France.
    5. Vincent Labhard & Gabriel Sterne & Chris Young, 2005. "Wealth and consumption: an assessment of the international evidence," Bank of England Staff Working Paper series 275, Bank of England.
    6. Hartmann, Philipp & Papaioannou, Elias & Lo Duca, Marco & Heider, Florian, 2007. "The role of financial markets and innovation in productivity and growth in Europe," Occasional Paper Series 72, European Central Bank.
    7. Winkler, Adalbert & Geis, André & Böwer, Uwe, 2007. "Commodity price fluctuations and their impact on monetary and fiscal policies in Western and Central Africa," Occasional Paper Series 60, European Central Bank.
    8. Kajuth, Florian & Knetsch, Thomas A. & Pinkwart, Nicolas, 2013. "Assessing house prices in Germany: Evidence from an estimated stock-flow model using regional data," Discussion Papers 46/2013, Deutsche Bundesbank.
    9. Sánchez Muñoz, Carlos & Israël, Jean-Marc, 2007. "Towards harmonised balance of payments and international investment position statistics - the experience of the European compilers," Occasional Paper Series 67, European Central Bank.
    10. Muhammad Ali Nasir & Milton Yago & Alaa M. Soliman & Junjie Wu, 2016. "Financial stability, wealth effects and optimal macroeconomic policy combination in the United Kingdom: A new-Keynesian dynamic stochastic general equilibrium framework," Cogent Economics & Finance, Taylor & Francis Journals, vol. 4(1), pages 1136098-113, December.
    11. Kajuth, Florian, 2010. "The role of liquidity constraints in the response of monetary policy to house prices," Journal of Financial Stability, Elsevier, vol. 6(4), pages 230-242, December.
    12. Gabe Jacob de Bondt & Arne Gieseck & Zivile Zekaite, 2020. "Thick modelling income and wealth effects: a forecast application to euro area private consumption," Empirical Economics, Springer, vol. 58(1), pages 257-286, January.
    13. Russo, Daniela & Caviglia, Giacomo & Papathanassiou, Chryssa & Rosati, Simonetta, 2007. "Prudential and oversight requirements for securities settlement," Occasional Paper Series 76, European Central Bank.
    14. Aßmuth, Pascal, 2017. "Stock price related financial fragility and growth patterns," Economics Discussion Papers 2017-108, Kiel Institute for the World Economy.
    15. Piotr Lis, 2015. "Relationships between the finance system and housing markets," Working papers wpaper99, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    16. İşcan, Talan B., 2011. "Productivity growth and the U.S. saving rate," Economic Modelling, Elsevier, vol. 28(1), pages 501-514.
    17. Tuomas A. Peltonen & Ricardo M. Sousa & Isabel S. Vansteenkiste, 2009. "Wealth Effects in Emerging Market Economies," NIPE Working Papers 4/2009, NIPE - Universidade do Minho.
    18. Robert-Paul Berben & Kerstin Bernoth & Mauro Mastrogiacomo, 2007. "Households' response to wealth changes: do gains or losses make a difference?," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Proceedings of the IFC Conference on "Measuring the financial position of the household sector", Basel, 30-31 August 2006 - Volume 1, volume 25, pages 145-160, Bank for International Settlements.
    19. Petschnigg, Reinhard, 2005. "The institutional framework for financial market policy in the USA seen from an EU perspective," Occasional Paper Series 35, European Central Bank.
    20. Benalal, Nicholai & Diaz del Hoyo, Juan Luis & Pierluigi, Beatrice & Vidalis, Nick, 2006. "Output growth differentials across the euro area countries: some stylised facts," Occasional Paper Series 45, European Central Bank.
    21. Francesco Furlanetto, 2011. "Does Monetary Policy React to Asset Prices? Some International Evidence," International Journal of Central Banking, International Journal of Central Banking, vol. 7(3), pages 91-111, September.
    22. Kenny, Geoff & Genre, Véronique & Bowles, Carlos & Friz, Roberta & Meyler, Aidan & Rautanen, Tuomas, 2007. "The ECB survey of professional forecasters (SPF) - A review after eight years' experience," Occasional Paper Series 59, European Central Bank.
    23. Sousa, Ricardo M., 2009. "Wealth effects on consumption: evidence from the euro area," Working Paper Series 1050, European Central Bank.
    24. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    25. Ibrahim Ahamada & Jose Luis Diaz Sanchez, 2013. "A Retrospective Analysis of the House Prices Macro-Relationship in the United States," International Journal of Central Banking, International Journal of Central Banking, vol. 9(4), pages 153-174, December.
    26. Jiri Slacalek, 2006. "What Drives Personal Consumption?: The Role of Housing and Financial Wealth," Discussion Papers of DIW Berlin 647, DIW Berlin, German Institute for Economic Research.
    27. Stiegert, Roger & Leiner-Killinger, Nadine & López Pérez, Víctor & Vitale, Giovanni, 2007. "Structural reforms in EMU and the role of monetary policy: a survey of the literature," Occasional Paper Series 66, European Central Bank.
    28. Petr Jakubík, 2011. "Household Balance Sheets and Economic Crisis," Working Papers IES 2011/20, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jun 2011.
    29. de Beaufort Wijnholds, Johannes Onno & Søndergaard, Lars, 2007. "Reserve accumulation: objective or by-product?," Occasional Paper Series 73, European Central Bank.
    30. Signe Rosenberg, 2015. "The Impact of a Change in Real Estate Value on Private Consumption in Estonia," Research in Economics and Business: Central and Eastern Europe, Tallinn School of Economics and Business Administration, Tallinn University of Technology, vol. 7(2).
    31. de Bondt, Gabe & Gieseck, Arne & Zekaite, Zivile & Herrero, Pablo, 2019. "Disaggregate income and wealth effects in the largest euro area countries," Working Paper Series 2343, European Central Bank.
    32. Bindseil, Ulrich & Papadia, Francesco, 2006. "Credit risk mitigation in central bank operations and its effects on financial markets: the case of the Eurosystem," Occasional Paper Series 49, European Central Bank.
    33. Karl Whelan & Filippo Altissimo & Evaggelia Georgiou & Teresa Sastre & Maria Teresa Valderrama & Gabriel Sterne & Marc Stocker & Mark Weth & Alpo Willman, 2005. "Wealth and asset price effects on economic activity," Open Access publications 10197/210, School of Economics, University College Dublin.
    34. Kose, M. Ayhan & Claessens, Stijn, 2017. "Asset Prices and Macroeconomic Outcomes: A Survey," CEPR Discussion Papers 12460, Centre for Economic Policy Research.
    35. Enrique López & Andr�s Salamanca, 2009. "El efecto riqueza de la vivienda en Colombia," Coyuntura Económica, Fedesarrollo.
    36. Dierick, Frank & Pires, Fatima & Scheicher, Martin & Spitzer, Kai Gereon, 2005. "The New Basel Capital Framework and its implementation in the European Union," Occasional Paper Series 42, European Central Bank.
    37. Wolfgang Feilmayr, 2015. "Levels and development of real estate prices in different Austrian regions," ERES eres2015_107, European Real Estate Society (ERES).
    38. Thimann, Christian & Drage, John & Nikitin, Minna & Just, Christian & Pauli, Rolf & Committeri, Marco & Weber, Pierre-François & Fernández de Lis, Santiago & von Stenglin, Stephan & Hollensen, Ole & B, 2005. "Managing financial crises in emerging market economies - experience with the involvement of private sector creditors," Occasional Paper Series 32, European Central Bank.
    39. Monica Paiella, 2009. "The Stock Market, Housing And Consumer Spending: A Survey Of The Evidence On Wealth Effects," Journal of Economic Surveys, Wiley Blackwell, vol. 23(5), pages 947-973, December.
    40. Roma, Moreno & Janger, Jürgen & Gerritsen, Mathijs & Schivardi, Fabiano & O'Brien, Derry & Chauvin, Valérie & Lopez-Garcia, Paloma & Yusupová, Elena & Amador, João & Walch, Erik & van Riet, Ad & Nicol, 2006. "Competition, productivity and prices in the euro area services sector," Occasional Paper Series 44, European Central Bank.
    41. Pirmin Fessler & Peter Mooslechner & Martin Schürz & Karin Wagner, 2009. "Housing Wealth of Austrian Households," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 104-124.
    42. Beck, Roland & Kamps, Annette & Mileva, Elitza, 2007. "Long-term growth prospects for the Russian economy," Occasional Paper Series 58, European Central Bank.
    43. Ersi Athanassiou & Ekaterini Tsouma, 2017. "Financial and Housing Wealth Effects on Private Consumption: The Case of Greece," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 15(1), pages 63-86.
    44. Angeloni, Ignazio & Flad, Michael & Mongelli, Francesco Paolo, 2005. "Economic and monetary integration of New Member States - helping to chart the route," Occasional Paper Series 36, European Central Bank.
    45. González, Fernando & Coppens, François & Winkler, Gerhard, 2007. "The performance of credit rating systems in the assessment of collateral used in Eurosystem monetary policy operations," Occasional Paper Series 65, European Central Bank.
    46. Lee, Jiho, 2013. "Consumption, financial wealth and labor income in Korea," Japan and the World Economy, Elsevier, vol. 25, pages 59-67.
    47. Luc Arrondel & Pierre Lamarche & Frédérique Savignac, 2014. "Consommation et patrimoine des ménages : au‑delà du débat macroéconomique…," Économie et Statistique, Programme National Persée, vol. 472(1), pages 21-48.
    48. Dorrucci, Ettore & Gavilá, Sergio & Kreye, Antje & Rautava, Jouko & Balcao Reis, Teresa & Ghirga, Maurizio & Levy-Rueff, Guy & González-Mota, Emiliano & Leichtlein, Gudrun & Lagerblom, Angelika & Come, 2006. "The accumulation of foreign reserves," Occasional Paper Series 43, European Central Bank.
    49. Anderton, Robert & Melyn, Wim & Jochem, Alex & Pakinezou, N M & Torres, Javier & Lecat, Remy & Tedeschi, Roberto & Eggelte, Jurriann & Abreu, Ildeberta & Kinnunen, Helvi & Oliveira-Soares, Rodrigo & N, 2005. "Competitiveness and the export performance of the euro area," Occasional Paper Series 30, European Central Bank.
    50. Dimitrios Sideris & Georgia Pavlou, 2021. "Disaggregate income and wealth effects on private consumption in Greece," Working Papers 293, Bank of Greece.
    51. David Mayes & Matti Virén, 2010. "The Impact of Asset Prices and their Information Value for Monetary Policy," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 28(61), pages 134-167, August.
    52. Giammarioli, Nicola & Nickel, Christiane & Rother, Philipp & Vidal, Jean-Pierre, 2007. "Assessing fiscal soundness: theory and practice," Occasional Paper Series 56, European Central Bank.
    53. Alessio Ciarlone, 2012. "Wealth effects in emerging economies," Temi di discussione (Economic working papers) 843, Bank of Italy, Economic Research and International Relations Area.
    54. Araújo, Eurilton, 2013. "Robust monetary policy with the consumption-wealth channel," Journal of Economic Dynamics and Control, Elsevier, vol. 37(1), pages 296-311.
    55. Van Rixtel, Adrian & Garcí­a, Juan Angel, 2007. "Inflation-linked bonds from a Central Bank perspective," Occasional Paper Series 62, European Central Bank.
    56. Koivu, Tuuli, 2012. "Monetary policy, asset prices and consumption in China," Economic Systems, Elsevier, vol. 36(2), pages 307-325.
    57. Talan B. Işcan, 2008. "Productivity Growth and the Future of the U.S. Saving Rate," Working Papers daleconwp2009-02, Dalhousie University, Department of Economics.
    58. Mr. Igor Lebrun & Mrs. Esther Perez Ruiz, 2014. "Demand Patterns in France, Germany, and Belgium: Can We Explain the Differences?," IMF Working Papers 2014/165, International Monetary Fund.
    59. Schönenberger, Andreas & Schmiedel, Heiko, 2005. "Integration of securities market infrastructure in the euro area," Occasional Paper Series 33, European Central Bank.
    60. Milani, Fabio, 2011. "The impact of foreign stock markets on macroeconomic dynamics in open economies: A structural estimation," Journal of International Money and Finance, Elsevier, vol. 30(1), pages 111-129, February.
    61. Haertel, Thomas & Hamburg, Britta & Kusin, Vladimir, 2022. "The macroeconometric model of the Bundesbank revisited," Technical Papers 01/2022, Deutsche Bundesbank.
    62. Pawe³ Œliwiñski, 2023. "Endogenous money supply, global liquidity and financial transactions: Panel evidence from OECD countries," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 18(1), pages 121-152, March.
    63. Schuknecht, Ludger & Morris, Richard & Ongena, Hedwig, 2006. "The reform and implementation of the Stability and Growth Pact," Occasional Paper Series 47, European Central Bank.
    64. Winkler, Adalbert & Geisler, Klaus-Dieter & del Río, Pedro & Pouvelle, Cyril & Golden, Brian & Vasjukova, Marina & Szalai, Zoltán & Dijkman, Miquel & Gǎlǎţescu, Anca Adriana & Noč, Matjaž & de-Alessi,, 2006. "Macroeconomic and financial stability challenges for acceding and candidate countries," Occasional Paper Series 48, European Central Bank.
    65. Igor Lebrun & Esther Pérez Ruiz, 2015. "Demand patterns in France, Germany and Belgium: Can We Explain the Differences?," EcoMod2015 8314, EcoMod.
    66. Syed Abul, Basher, 2014. "Stock markets and energy prices," MPRA Paper 53863, University Library of Munich, Germany.
    67. Heimonen, Kari, 2010. "Money and equity returns in the Euro area," Global Finance Journal, Elsevier, vol. 21(2), pages 152-169.
    68. Rocha Armada, Manuel J. & Sousa, Ricardo M. & Wohar, Mark E., 2015. "Consumption growth, preference for smoothing, changes in expectations and risk premium," The Quarterly Review of Economics and Finance, Elsevier, vol. 56(C), pages 80-97.
    69. Bill Martin, 2009. "An Augmented UK Private Expenditure Function," Working Papers wp384, Centre for Business Research, University of Cambridge.
    70. Skudelny, Frauke, 2009. "Euro area private consumption: Is there a role for housing wealth effects," Working Paper Series 1057, European Central Bank.
    71. Airaudo, Marco & Cardani, Roberta & Lansing, Kevin J., 2013. "Monetary policy and asset prices with belief-driven fluctuations," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1453-1478.
    72. Gabriela Lopes de Castro, 2007. "The Wealth Effect on Consumption in the Portuguese Economy," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    73. Picón Aguilar, Carmen & Damia, Violetta, 2006. "Quantitative quality indicators for statistics: an application to euro area balance of payment," Occasional Paper Series 54, European Central Bank.
    74. Turunen, Jarkko & Musso, Alberto & Stocker, Marc & Gómez-Salvador, Ramón, 2006. "Labour productivity developments in the euro area," Occasional Paper Series 53, European Central Bank.
    75. Koivu, Tuuli, 2010. "Monetary policy, asset prices and consumption in China," BOFIT Discussion Papers 18/2010, Bank of Finland Institute for Emerging Economies (BOFIT).
    76. Arratibel, Olga & Heinz, Frigyes Ferdinand & Martin, Reiner & Przybyla, Marcin & Rawdanowicz, Lukasz & Serafini, Roberta & Zumer, Tina, 2007. "Determinants of growth in the central and eastern European EU member states - a production function approach," Occasional Paper Series 61, European Central Bank.
    77. Jackson, Andrew & Jackson, Tim, 2025. "Macroeconomic, sectoral and financial dynamics in energy transitions: A stock-flow consistent, input-output approach," Ecological Economics, Elsevier, vol. 230(C).
    78. Paul Hiebert, 2006. "Household Saving and Asset Valuations in Selected Industrialised Countries," RBA Research Discussion Papers rdp2006-07, Reserve Bank of Australia.
    79. Sturm, Michael & Siegfried, Nikolaus, 2005. "Regional monetary integration in the member states of the Gulf Cooperation Council," Occasional Paper Series 31, European Central Bank.
    80. Schmiedel, Heiko, 2007. "The economic impact of the Single Euro Payments Area," Occasional Paper Series 71, European Central Bank.
    81. Russo, Daniela & Rosati, Simonetta & Chan, Diana & Fontan, Florence, 2007. "The securities custody industry," Occasional Paper Series 68, European Central Bank.
    82. Ehrmann, Michael & Smets, Frank & Altissimo, Filippo, 2006. "Inflation persistence and price-setting behaviour in the euro area: a summary of the IPN evidence," Occasional Paper Series 46, European Central Bank.
    83. Alan Rai, 2015. "Stock Market Illiquidity's Predictive Role Over Economic Growth: The Australian Evidence," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 18(02), pages 1-30.
    84. Annenkov, Anatoli & Madaschi, Christophe, 2005. "Labour productivity in the Nordic EU countries: a comparative overview and explanatory factors 1980-2004," Occasional Paper Series 39, European Central Bank.
    85. Riccardo De Bonis & Andrea Silvestrini, 2010. "The Effects of Financial and Real Wealth on Consumption: New Evidence from OECD Countries," Mo.Fi.R. Working Papers 38, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    86. Thimann, Christian & Skala, Martin & Wölfinger, Regine, 2007. "The search for Columbus' egg: finding a new formula to determine quotas at the IMF," Occasional Paper Series 70, European Central Bank.
    87. Mongelli, Francesco Paolo & Dorrucci, Ettore & Agur, Itai, 2005. "What does European institutional integration tell us about trade integration?," Occasional Paper Series 40, European Central Bank.
    88. Bindseil, Ulrich & Sotamaa, Kai & Amado, Ricardo & Honings, Noëlle & Chiappa, Gigliola & Boux, Bérénice & Föttinger, Wolfgang & Ledoyen, Pierre & Schwartzlose, Henrik & van der Hoorn, Han & Monar, Fer, 2007. "The use of portfolio credit risk models in central banks," Occasional Paper Series 64, European Central Bank.
    89. Till van Treeck, 2008. "Asymmetric income and wealth effects in a non-linear error correction model of US consumer spending," IMK Working Paper 06-2008, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

  20. Rainer Klump & Peter McAdam & Alpo Willman, 2004. "Factor Substitution and Factor Augmenting Technical Progress in the US: A Normalized Supply-Side System Approach," DEGIT Conference Papers c009_030, DEGIT, Dynamics, Economic Growth, and International Trade.

    Cited by:

    1. Zhenqiu Wu & Biqing Yue & Yue Dai & Yujin Ge & Guangmei Lu & Fei Zu, 2024. "The influence of biased technical progress on employment scale of the circulation industry: Evidence from China," PLOS ONE, Public Library of Science, vol. 19(3), pages 1-25, March.
    2. Brada, Josef C., 2013. "The distribution of income between labor and capital is not stable: But why is that so and why does it matter?," Economic Systems, Elsevier, vol. 37(3), pages 333-344.
    3. Marianne Saam, 2005. "Openness To Trade as a Determinant of the Elasticity of Substitution between Capital and Labor," DEGIT Conference Papers c010_013, DEGIT, Dynamics, Economic Growth, and International Trade.
    4. Hideyuki Mizobuchi, 2015. "Multiple Directions for Measuring Biased Technical Change," CEPA Working Papers Series WP092015, School of Economics, University of Queensland, Australia.
    5. Irmen, Andreas, 2015. "A Generalized Steady-State Growth Theorem," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113141, Verein für Socialpolitik / German Economic Association.
    6. Bosi, Stefano & Seegmuller, Thomas, 2010. "On the role of progressive taxation in a Ramsey model with heterogeneous households," Journal of Mathematical Economics, Elsevier, vol. 46(6), pages 977-996, November.
    7. Dariusz Kotlewski & Mirosław Błażej, 2020. "Sustainability of the convergence between Polish and EU developed economies in the light of KLEMS growth accounting," Bank i Kredyt, Narodowy Bank Polski, vol. 51(2), pages 121-142.
    8. Wesseh, Presley K. & Lin, Boqiang, 2017. "Climate change and agriculture under CO2 fertilization effects and farm level adaptation: Where do the models meet?," Applied Energy, Elsevier, vol. 195(C), pages 556-571.
    9. Michael Knoblach & Martin Roessler & Patrick Zwerschke, 2020. "The Elasticity of Substitution Between Capital and Labour in the US Economy: A Meta‐Regression Analysis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(1), pages 62-82, February.
    10. Kan, Kamhon & Wang, Yong, 2013. "Comparing China and India: A factor accumulation perspective," Journal of Comparative Economics, Elsevier, vol. 41(3), pages 879-894.
    11. McAdam, Peter & Muck, Jakub & Growiec, Jakub, 2015. "Will the true labor share stand up?," Working Paper Series 1806, European Central Bank.
    12. Jakub Growiec & Anna Pajor & Dorota Gorniak & Artur Predki, 2015. "The shape of aggregate production functions: evidence from estimates of the World Technology Frontier," Bank i Kredyt, Narodowy Bank Polski, vol. 46(4), pages 299-326.
    13. Manuel García-Santana & Josep Pijoan-Mas & Lucciano Villacorta, 2019. "Investment demand and structural change," Economics Working Papers 1668, Department of Economics and Business, Universitat Pompeu Fabra.
    14. Jakub Growiec, 2012. "Factor-Augmenting Technology Choice and Monopolistic Competition," DEGIT Conference Papers c017_038, DEGIT, Dynamics, Economic Growth, and International Trade.
    15. Kenneth G. Stewart & Jiang Li, 2018. "Are factor biases and substitution identifiable? The Canadian evidence," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(2), pages 528-548, May.
    16. Ezra Oberfield & Devesh Raval, 2014. "Micro Data and Macro Technology," NBER Working Papers 20452, National Bureau of Economic Research, Inc.
    17. van de Klundert, Theo, 2008. "Looking back, looking ahead: Biased technological change, substitution and the wage gap," Journal of Macroeconomics, Elsevier, vol. 30(2), pages 707-713, June.
    18. Matteo Aquilina & Rainer Klump & Carlo Pietrobelli, 2006. "Factor Substitution, Average Firm Size and Economic Growth," Small Business Economics, Springer, vol. 26(3), pages 203-214, April.
    19. Angelini, Elena & McAdam, Peter & D'Agostino, Antonello, 2006. "The Italian block of the ESCB multi-country model," Working Paper Series 660, European Central Bank.
    20. Saam, Marianne, 2008. "Openness to trade as a determinant of the macroeconomic elasticity of substitution," Journal of Macroeconomics, Elsevier, vol. 30(2), pages 691-702, June.
    21. Juselius, Mikael, 2008. "Long-run relationships between labor and capital: Indirect evidence on the elasticity of substitution," Journal of Macroeconomics, Elsevier, vol. 30(2), pages 739-756, June.
    22. Tabakovic, Amer & Irmen, Andreas, 2014. "Capital- and Labor-Augmenting Technical Change in the Neoclassical Growth Model," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100602, Verein für Socialpolitik / German Economic Association.
    23. Jakub Growiec, 2018. "The Digital Era, Viewed From a Perspective of Millennia of Economic Growth," KAE Working Papers 2018-034, Warsaw School of Economics, Collegium of Economic Analysis.
    24. Sun, Qingyu & Li, Chuandong & Ma, Xiaowei, 2025. "Regional equity in the energy transition: Assessing the role of productivity gaps and technology selection," Energy Economics, Elsevier, vol. 147(C).
    25. Robert Z. Lawrence, 2015. "Recent Declines in Labor's Share in US Income: A Preliminary Neoclassical Account," NBER Working Papers 21296, National Bureau of Economic Research, Inc.
    26. Andreas Irmen, 2011. "Steady-state growth and the elasticity of substitution," Post-Print hal-00828979, HAL.
    27. Jean-Claude Trichet, 2011. "Achieving maximum long-term growth," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 427-449.
    28. Sánchez, Marcelo, 2009. "National prices and wage setting in a currency union," Working Paper Series 1058, European Central Bank.
    29. Andreas Irmen & Rainer Klump, 2009. "Factor Substitution, Income Distribution and Growth in a Generalized Neoclassical Model," German Economic Review, Verein für Socialpolitik, vol. 10(4), pages 464-479, November.
    30. Hing-Man Leung, 2007. "“Un-balanced” Economic Growth," Working Papers 12-2007, Singapore Management University, School of Economics.
    31. Sánchez, Marcelo, 2010. "Wage restraint and monetary union," Economic Modelling, Elsevier, vol. 27(1), pages 134-142, January.
    32. Young, Andrew T. & Lawson, Robert A., 2014. "Capitalism and labor shares: A cross-country panel study," European Journal of Political Economy, Elsevier, vol. 33(C), pages 20-36.
    33. Anastastia Litina & Theodore Palivos, 2008. "The Behaviour of the Saving Rate in the Neoclassical Optimal Growth Model," Discussion Paper Series 2008_05, Department of Economics, University of Macedonia, revised Jun 2008.
    34. McAdam, Peter & Willman, Alpo, 2007. "Phillips-Curve Dynamics: Mark-Up Cyclicality, Effective Hours and Regime-Dependency," Kiel Working Papers 1359, Kiel Institute for the World Economy.
    35. Gómez, Manuel A., 2008. "Dynamics Of The Saving Rate In The Neoclassical Growth Model With Ces Production," Macroeconomic Dynamics, Cambridge University Press, vol. 12(2), pages 195-210, April.
    36. Wong, Tsz-Nga & Yip, Chong K., 2010. "Indeterminacy and the elasticity of substitution in one-sector models," Journal of Economic Dynamics and Control, Elsevier, vol. 34(4), pages 623-635, April.
    37. Jakub Growiec & Jakub Muck, 2015. "Isoelastic Elasticity of Substitution Production Functions," Discussion Papers 15-13, University of Copenhagen. Department of Economics.
    38. Ken Stewart, 2018. "Normalized CES Supply Systems: Replication of Klump, McAdam, and Willman (2007)," Department Discussion Papers 1807, Department of Economics, University of Victoria.
    39. Roger E.A. Farmer, 2013. "Animal Spirits, Financial Crises and Persistent Unemployment-super-," Economic Journal, Royal Economic Society, vol. 0, pages 317-340, May.
    40. Mariusz & Mirosław Błażej, 2020. "A control function approach to measuring the total factor productivity of enterprises in Poland," Bank i Kredyt, Narodowy Bank Polski, vol. 51(3), pages 293-316.
    41. Knoblach, Michael & Rößler, Martin & Zwerschke, Patrick, 2016. "The Elasticity of Factor Substitution Between Capital and Labor in the U.S. Economy: A Meta-Regression Analysis," CEPIE Working Papers 03/16, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    42. Nicolas Abad & Thomas Seegmuller & Alain Venditti, 2012. "Aggregate Instability under Labor Income Taxation and Balanced-Budget Rules: Preferences Matter," AMSE Working Papers 1217, Aix-Marseille School of Economics, France, revised Apr 2012.
    43. Takeuchi, Fumihide, 2023. "Intermediate goods-skill complementarity and income distribution," MPRA Paper 116372, University Library of Munich, Germany.
    44. Miguel A. León-Ledesma & Peter McAdam & Alpo Willman, 2015. "Production Technology Estimates and Balanced Growth," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 77(1), pages 40-65, February.
    45. Jakub Growiec, 2013. "On the measurement of technological progress across countries," Bank i Kredyt, Narodowy Bank Polski, vol. 44(5), pages 467-504.
    46. Hing-Man Leung, 2007. "Un-balanced Economic Growth," Development Economics Working Papers 22467, East Asian Bureau of Economic Research.
    47. Jakub Growiec, 2019. "The Hardware-Software Model: A New Conceptual Framework of Production, R&D, and Growth with AI," KAE Working Papers 2019-042, Warsaw School of Economics, Collegium of Economic Analysis.
    48. McAdam, Peter & Muck, Jakub & Growiec, Jakub, 2015. "Endogenous labor share cycles: theory and evidence," Working Paper Series 1765, European Central Bank.
    49. Chris Papageorgiou & Kaz Miyagiwa, 2006. "Endogenous Aggregate Elasticity of Substitution," Departmental Working Papers 2006-06, Department of Economics, Louisiana State University.
    50. Matheus R. Grasselli & Aditya Maheshwari, 2018. "Testing a Goodwin model with general capital accumulation rate," Papers 1803.01536, arXiv.org.
    51. Kenneth G. Stewart & Jiang Li, 2014. "Factor substitution, factor-augmenting technical progress, and trending factor shares: the Canadian evidence," Econometrics Working Papers 1403, Department of Economics, University of Victoria.

  21. Willman, Alpo, 2003. "Consumption, habit persistence, imperfect information and the lifetime budget constraint," Working Paper Series 251, European Central Bank.

    Cited by:

    1. Kuismanen, Mika & Pistaferri, Luigi, 2006. "Information, habits, and consumption behavior: evidence from micro data," Working Paper Series 572, European Central Bank.
    2. Schubert, Stefan Franz, 2009. "Dynamic Effects of Oil Price Shocks and their Impact on the Current Account," MPRA Paper 16738, University Library of Munich, Germany.
    3. Willman, Alpo, 2007. "Sequential optimization, front-loaded information, and U.S. consumption," Working Paper Series 765, European Central Bank.

  22. McAdam, Peter & Willman, Alpo, 2003. "New Keynesian Phillips Curves: a reassessment using euro-area data," Working Paper Series 265, European Central Bank.

    Cited by:

    1. Maritta Paloviita, 2008. "Comparing alternative Phillips curve specifications: European results with survey-based expectations," Applied Economics, Taylor & Francis Journals, vol. 40(17), pages 2259-2270.
    2. Filippo Altissimo & Michael Ehrmann & Frank Smets, 2006. "Inflation persistence and price-setting behaviour in the euro area : a summary of the Inflation Persistence Network evidence," Working Paper Research 95, National Bank of Belgium.
    3. Rumler, Fabio & Valderrama, Maria Teresa, 2010. "Comparing the New Keynesian Phillips Curve with time series models to forecast inflation," The North American Journal of Economics and Finance, Elsevier, vol. 21(2), pages 126-144, August.
    4. Carlos Medel, 2015. "Inflation Dynamics and the Hybrid Neo Keynesian Phillips Curve: The Case of Chile," Working Papers Central Bank of Chile 769, Central Bank of Chile.
    5. Medel, Carlos A., 2015. "Forecasting Inflation with the Hybrid New Keynesian Phillips Curve: A Compact-Scale Global VAR Approach," MPRA Paper 67081, University Library of Munich, Germany.
    6. Carl R. Gwin & David D. Van Hoose, 2008. "Disaggregate Evidence On Price Stickiness And Implications For Macro Models," Economic Inquiry, Western Economic Association International, vol. 46(4), pages 561-575, October.
    7. Fabio Rumler, 2005. "Estimates of the Open Economy New Keynesian Phillips Curve for Euro Area Countries," Working Papers 102, Oesterreichische Nationalbank (Austrian Central Bank).
    8. Batini, Nicoletta, 2002. "Euro area inflation persistence," Working Paper Series 201, European Central Bank.
    9. Sigal Ribon, 2004. "A New Phillips Curve for Israel," Bank of Israel Working Papers 2004.11, Bank of Israel.
    10. Ieva Rubene & Paolo Guarda, 2004. "The new Keynesian Phillips curve: empirical results for Luxembourg," BCL working papers 11, Central Bank of Luxembourg.
    11. Peter McAdam & Alpo Willman, 2004. "Supply, Factor Shares and Inflation Persistence: Re‐examining Euro‐area New‐Keynesian Phillips Curves," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(s1), pages 637-670, September.
    12. Luis F. Céspedes & Marcelo Ochoa & Claudio Soto, 2005. "The New Keynesian Phillips Curve in an Emerging Market Economy: The Case of Chile," Working Papers Central Bank of Chile 355, Central Bank of Chile.
    13. Paloviita, Maritta, 2005. "Comparing alternative Phillips curve specifications: European results with survey-based expectations," Bank of Finland Research Discussion Papers 22/2005, Bank of Finland.
    14. Alistair Dieppe & Jerome Henry & Peter Mc Adam, "undated". "Labour market dynamics in the euro area: A model-based sensitivity analysis," Modeling, Computing, and Mastering Complexity 2003 09, Society for Computational Economics.
    15. Fabio Rumler, 2006. "The New Keynesian Phillips Curve for Austria – An Extension for the Open Economy," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 4, pages 55-69.
    16. Vermeulen, Philip, 2007. "Can adjustment costs explain the variability and counter-cyclicality of the labour share at the firm and aggregate level?," Working Paper Series 772, European Central Bank.

  23. Willman, Alpo, 2002. "Euro area production function and potential output: a supply side system approach," Working Paper Series 153, European Central Bank.

    Cited by:

    1. Tommaso Proietti & Alberto Musso, 2012. "Growth accounting for the euro area," Empirical Economics, Springer, vol. 43(1), pages 219-244, August.
    2. Jaromir Benes & Tibor Hledik & Jaromir Hurnik & Jiri Podpiera & Jan Vlcek, 2005. "CNB Economic Research Bulletin: Potential Output," Occasional Publications - Edited Volumes, Czech National Bank, Research and Statistics Department, edition 1, volume 3, number rb03/1 edited by Vladislav Flek.
    3. Breuer Sebastian & Elstner Steffen, 2020. "Germany’s Growth Prospects against the Backdrop of Demographic Change," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 240(5), pages 565-605, October.
    4. Rainer Klump & Peter McAdam & Alpo Willman, 2004. "Factor Substitution and Factor Augmenting Technical Progress in the US: A Normalized Supply-Side System Approach," DEGIT Conference Papers c009_030, DEGIT, Dynamics, Economic Growth, and International Trade.
    5. Yazid Dissou & Lilia Karnizova & Qian Sun, 2012. "Industry-level Econometric Estimates of Energy-capital-labour Substitution with a Nested CES Production Function," Working Papers 1214E, University of Ottawa, Department of Economics.
    6. Rodrigo Fuentes & Fabián Gredig & Mauricio Larraín, 2007. "Estimating the Output Gap for Chile," Working Papers Central Bank of Chile 455, Central Bank of Chile.
    7. Jiri Podpiera, 2004. "Consumers, Consumer Prices and the Czech Business Cycle Identification," Working Papers 2004/04, Czech National Bank, Research and Statistics Department.
    8. Mr. Phurichai Rungcharoenkitkul, 2012. "Modeling with Limited Data: Estimating Potential Growth in Cambodia," IMF Working Papers 2012/096, International Monetary Fund.
    9. Óscar Afonso & Mafalda Pinho, 2024. "Impact of inter-country corruption differences on wages and economic growth," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-46, April.
    10. McAdam, Peter & Willman, Alpo, 2004. "Production, supply and factor shares: an application to estimating German long-run supply," Economic Modelling, Elsevier, vol. 21(2), pages 191-215, March.
    11. Rodrigo Fuentes & Fabián Gredig & Mauricio Larraín, 2008. "La brecha de producto en Chile: medición y evaluación," Investigación Conjunta-Joint Research, in: Centro de Estudios Monetarios Latinoamericanos (CEMLA) (ed.), Estimación y Uso de Variables no Observables en la Región, edition 1, volume 1, chapter 3, pages 69-102, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    12. Muhammad Rehman & Kalim Hyder & Fayyaz Hussain, 2025. "Output gap measurement: A Production function approach," SBP Working Paper Series 116, State Bank of Pakistan, Research Department.
    13. Klump, Rainer, 2003. "Inflation, factor substitution and growth," Working Paper Series 280, European Central Bank.
    14. Heipertz, Martin, 2003. "The Stability and Growth Pact - Not the best but better than nothing. Reviewing the debate on fiscal policy in Europe's Monetary Union," MPIfG Working Paper 03/10, Max Planck Institute for the Study of Societies.
    15. José Ronaldo de Castro Souza Júnior, 2005. "Produto Potencial: Conceitos, Métodos de Estimação e Aplicação à Economia Brasileira," Discussion Papers 1130, Instituto de Pesquisa Econômica Aplicada - IPEA.
    16. Miguel A. León-Ledesma & Peter McAdam & Alpo Willman, 2010. "Identifying the Elasticity of Substitution with Biased Technical Change," American Economic Review, American Economic Association, vol. 100(4), pages 1330-1357, September.
    17. Musso, Alberto & Westermann, Thomas, 2005. "Assessing potential output growth in the euro area - a growth accounting perspective, January 2005," Occasional Paper Series 22, European Central Bank.
    18. Michał Konopczyński, 2013. "Fiscal policy within a common currency area – growth implications in the light of neoclassical theory," Contemporary Economics, Vizja University, vol. 7(3), September.
    19. Juha Kilponen & Matti Viren, 2010. "Why do growth rates differ? Evidence from cross-country data on private sector production," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 37(3), pages 311-328, July.
    20. Tommaso Proietti & Alberto Musso & Thomas Westermann, 2007. "Estimating potential output and the output gap for the euro area: a model-based production function approach," Empirical Economics, Springer, vol. 33(1), pages 85-113, July.
    21. Jorge Iván RODRIGUEZ MUNOZ & Juan Ricardo PERILLA JIMENEZ & Jos� Daniel REYES PE�A, 2004. "Cálculo del PIB Potencial en Colombia.:1970-2003," Archivos de Economía 2078, Departamento Nacional de Planeación.
    22. Anderton, Robert & Elding, Catherine & Haroutunian, Stephan & Jarvis, Valerie & Aranki, Ted & Rusinova, Desislava & Labhard, Vincent & Jacquinot, Pascal & Dieppe, Alistair & Szörfi, Béla, 2014. "Potential output from a euro area perspective," Occasional Paper Series 156, European Central Bank.
    23. Mr. Natan P. Epstein & Corrado Macchiarelli, 2010. "Estimating Poland's Potential Output: A Production Function Approach," IMF Working Papers 2010/015, International Monetary Fund.
    24. Michał Konopczyński, 2022. "Optimal Fiscal Policy in a Small Open Economy: Insights from the Growth Model with Human Capital and Public Debt," Central European Journal of Economic Modelling and Econometrics, Central European Journal of Economic Modelling and Econometrics, vol. 14(2), pages 131-160, June.
    25. Philippe Jeanfils & Koen Burggraeve, 2005. "Noname - A new quarterly model for Belgium," Working Paper Research 68, National Bank of Belgium.
    26. Pyyhtiä, Ilmo, 2007. "Why is Europe lagging behind?," Bank of Finland Research Discussion Papers 3/2007, Bank of Finland.
    27. McAdam, Peter & Willman, Alpo, 2003. "New Keynesian Phillips Curves: a reassessment using euro-area data," Working Paper Series 265, European Central Bank.
    28. Miguel A. León-Ledesma & Peter McAdam & Alpo Willman, 2015. "Production Technology Estimates and Balanced Growth," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 77(1), pages 40-65, February.
    29. Michał Konopczyński, 2014. "How Taxes and Spending on Education Influence Economic Growth in Poland," Contemporary Economics, Vizja University, vol. 8(3), September.
    30. Mirjalili, Seyed hossein & Dehghan Khavari, Saeed, 2012. "Potential Output in Iran; A Comparison of Alternative Methods, 1978-2008," MPRA Paper 124179, University Library of Munich, Germany, revised Oct 2012.
    31. Jürgen Janger & Johann Scharler & Alfred Stiglbauer, 2006. "The Potential Growth Prospects of the Austrian Economy — Methods and Determinants," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 24-52.
    32. Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung (ed.), 2007. "Das Erreichte nicht verspielen. Jahresgutachten 2007/08 [The gains must not be squandered. Annual Report 2007/08]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 200708.
    33. McAdam, Peter & Willman, Alpo & León-Ledesma, Miguel A., 2010. "In dubio pro CES - Supply estimation with mis-specified technical change," Working Paper Series 1175, European Central Bank.

  24. Alpo Willman & Ángel Estrada, 2002. "The Spanish block of the ESCB-Multi-Country model," Working Papers 0212, Banco de España.

    Cited by:

    1. Francisco de Castro, 2006. "The macroeconomic effects of fiscal policy in Spain," Applied Economics, Taylor & Francis Journals, vol. 38(8), pages 913-924.
    2. Magdalena Zachłod-Jelec, 2008. "Koncepcja bogactwa gospodarstw domowych. Szacunki dla Polski," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 9, pages 19-50.
    3. Bohdan Klos & Ryszard Kokoszczynski & Tomasz Lyziak & Jan Przystupa & Ewa Wrobel, 2005. "Structural Econometric Models in Forecasting Inflation at the National Bank of Poland," NBP Working Papers 31, Narodowy Bank Polski.
    4. Warmedinger, Thomas & Vetlov, Igor, 2006. "The German block of the ESCB multi-country model," Working Paper Series 654, European Central Bank.
    5. Markus Leibrecht & Martin Schneider, 2006. "AQM-06: The Macro economic Model of the OeNB," Working Papers 132, Oesterreichische Nationalbank (Austrian Central Bank).
    6. Francisco de Castro, 2003. "Non-Keynesian effects of public expenditure in Spain," Applied Economics Letters, Taylor & Francis Journals, vol. 10(10), pages 651-655.
    7. Sousa, Ricardo M., 2009. "Wealth effects on consumption: evidence from the euro area," Working Paper Series 1050, European Central Bank.
    8. Skufi, Lorena & Kika, Eglent, 2018. "The Price Formation Process in the Albanian Economy: a macro modelling approach," MPRA Paper 121973, University Library of Munich, Germany, revised 19 Aug 2019.
    9. Zachłod-Jelec, Magdalena, . "Koncepcja bogactwa gospodarstw domowych. Szacunki dla Polski," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2008(9).
    10. Angelini, Elena & McAdam, Peter & D'Agostino, Antonello, 2006. "The Italian block of the ESCB multi-country model," Working Paper Series 660, European Central Bank.
    11. Dieppe, Alistair & Henry, Jerome, 2004. "The euro area viewed as a single economy: how does it respond to shocks?," Economic Modelling, Elsevier, vol. 21(5), pages 833-875, September.
    12. Boss, Alfred & Dovern, Jonas & Gern, Klaus-Jürgen & Jannsen, Nils & Meier, Carsten-Patrick & van Roye, Björn & Scheide, Joachim, 2009. "Ursachen der Wachstumsschwäche in Deutschland 1995-2005," Kieler Beiträge zur Wirtschaftspolitik 2, Kiel Institute for the World Economy.
    13. Angelini, Elena & Ciccarelli, Matteo & Boissay, Frédéric, 2006. "The Dutch block of the ESCB multi-country model," Working Paper Series 646, European Central Bank.
    14. Katarzyna Budnik & Michal Greszta & Michal Hulej & Marcin Kolasa & Karol Murawski & Michal Rot & Bartosz Rybaczyk & Magdalena Tarnicka, 2009. "The new macroeconometric model of the Polish economy," NBP Working Papers 62, Narodowy Bank Polski.
    15. Ryan, Mary, 2003. "Patterns and Determinants of Irish Consumption," Quarterly Bulletin Articles, Central Bank of Ireland, pages 67-89, August.
    16. Vetlov, Igor, 2004. "The lithuanian block of the ECSB multi-country model," BOFIT Discussion Papers 13/2004, Bank of Finland Institute for Emerging Economies (BOFIT).
    17. Libero Monteforte, 2004. "Aggregation bias in macro models: does it matter foir the euro area?," Temi di discussione (Economic working papers) 534, Bank of Italy, Economic Research and International Relations Area.
    18. Ulrich Fritsche & Camille Logeay & Kirsten Lommatzsch & Katja Rietzler & Sabine Stephan & Rudolf Zwiener unter Mitarb. von Cansel Kiziltepe & Christian Proano-Acosta, 2005. "Auswirkungen von länderspezifischen Differenzen in der Lohn-, Preisniveau- und Produktivitätsentwicklung auf Wachstum und Beschäftigung in den Ländern des Euroraums: Endbericht ; Forschungsprojekt im Auftrag des Bundesministers für Wirtschaft und Arb," DIW Berlin: Politikberatung kompakt, DIW Berlin, German Institute for Economic Research, volume 8, number pbk8.
    19. Barabas, György & Gebhardt, Heinz & Münch, Heinz Josef & Schmidt, Christoph M. & Schmidt, Torsten & Breitung, Jörg, 2005. "Methoden mittelfristiger gesamtwirtschaftlicher Projektionen: Dienstleistungsvorhaben im Auftrag des Bundesministeriums für Wirtschaft und Arbeit, Projektnummer 02/05. Vorläufiger Endbericht," RWI Projektberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, number 69948.
    20. Dovern, Jonas & Meier, Carsten-Patrick, 2006. "Macroeconomic aspects of structural labor market reforms in Germany," Kiel Working Papers 1295, Kiel Institute for the World Economy.
    21. Ciccarelli, Matteo & Darracq Pariès, Matthieu & Priftis, Romanos & Angelini, Elena & Bańbura, Marta & Bokan, Nikola & Fagan, Gabriel & Gumiel, José Emilio & Kornprobst, Antoine & Lalik, Magdalena & Mo, 2024. "ECB macroeconometric models for forecasting and policy analysis," Occasional Paper Series 344, European Central Bank.

  25. Tarkka, Juha & Willman, Alpo, 1990. "Financial markets in the BOF4 model of the Finnish economy," Bank of Finland Research Discussion Papers 1/1990, Bank of Finland.

    Cited by:

    1. Haaparanta, Pertti, 1990. "Whether to join EMS or not: Signalling and the membership," Bank of Finland Research Discussion Papers 9/1990, Bank of Finland.
    2. Kontulainen, Jarmo & Lehmussaari, Olli-Pekka & Suvanto, Antti, 1990. "The Finnish experience on maintaining a currency band in the 1980s," Bank of Finland Research Discussion Papers 26/1990, Bank of Finland.
    3. Haaparanta, Pertti & Heinonen, Tarja, 1990. "Re-opening of banks' certificates of deposit market," Bank of Finland Research Discussion Papers 6/1990, Bank of Finland.
    4. Ahlstedt, Monica, 1990. "Measuring the interest rate and exchange rate risk of a commercial bank's portfolio," Bank of Finland Research Discussion Papers 17/1990, Bank of Finland.
    5. Kostiainen, Seppo & Starck, Christian, 1990. "Does government and corporate saving influence household saving in Finland?," Bank of Finland Research Discussion Papers 27/1990, Bank of Finland.

  26. Tarkka, Juha & Willman, Alpo, 1990. "Income distribution and government finances in the BOF4 model of the Finnish economy," Bank of Finland Research Discussion Papers 7/1990, Bank of Finland.

    Cited by:

    1. Haaparanta, Pertti, 1990. "Whether to join EMS or not: Signalling and the membership," Bank of Finland Research Discussion Papers 9/1990, Bank of Finland.
    2. Holm, Pasi & Honkapohja, Seppo & Koskela, Erkki, 1990. "A monopoly union model of wage determination with taxes and endogenous capital stock: an empirical application to the Finnish manufacturing industry," Bank of Finland Research Discussion Papers 24/1990, Bank of Finland.
    3. Ahlstedt, Monica, 1990. "Measuring the interest rate and exchange rate risk of a commercial bank's portfolio," Bank of Finland Research Discussion Papers 17/1990, Bank of Finland.

  27. Tarkka, Juha & Männistö, Hanna-Leena & Willman, Alpo, 1990. "Macroeconomic foundations and simulation properties of the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 2/1990, Bank of Finland.

    Cited by:

    1. Tarkka, Juha & Willman, Alpo, 1990. "Income distribution and government finances in the BOF4 model of the Finnish economy," Bank of Finland Research Discussion Papers 7/1990, Bank of Finland.
    2. Virén, Matti, 1990. "An analysis of advance effects of anticipated policy actions: Recent results with the Finnish MICRO-QMED model," Bank of Finland Research Discussion Papers 15/1990, Bank of Finland.

  28. Tarkka, Juha & Willman, Alpo & Rasi, Chris-Marie, 1989. "Labour supply, wages and prices in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 6/1989, Bank of Finland.

    Cited by:

    1. Tyrväinen, Timo, 1989. "Why break down centralized wage bargaining?," Bank of Finland Research Discussion Papers 22/1989, Bank of Finland.

  29. Tarkka, Juha & Willman, Alpo, 1988. "Exports and imports in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 3/1988, Bank of Finland.

    Cited by:

    1. Tarkka, Juha & Willman, Alpo & Männistö, Hanna-Leena, 1989. "Consumption and investment in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 9/1989, Bank of Finland.
    2. Lassila, Jukka, 2002. "An Overlapping-Generations Simulation Model for the Lithuanian Economy," Discussion Papers 669, The Research Institute of the Finnish Economy.
    3. Tarkka, Juha & Männistö, Hanna-Leena & Willman, Alpo, 1990. "Macroeconomic foundations and simulation properties of the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 2/1990, Bank of Finland.
    4. Valkonen, Tarmo, 2000. "Shifting the tax burden from labour to capital in general equilibrium," Discussion Papers 702, The Research Institute of the Finnish Economy.
    5. Tarkka, Juha & Willman, Alpo & Rasi, Chris-Marie, 1989. "Labour supply, wages and prices in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 6/1989, Bank of Finland.

  30. Tarkka, Juha & Willman, Alpo & Rasi, Chris-Marie, 1988. "Production and employment in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 14/1988, Bank of Finland.

    Cited by:

    1. Tarkka, Juha & Willman, Alpo & Männistö, Hanna-Leena, 1989. "Consumption and investment in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 9/1989, Bank of Finland.
    2. Tarkka, Juha & Männistö, Hanna-Leena & Willman, Alpo, 1990. "Macroeconomic foundations and simulation properties of the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 2/1990, Bank of Finland.

  31. Tarkka, Juha & Willman, Alpo, 1988. "Exports and imports in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 3/1988, Bank of Finland.

    Cited by:

    1. Tarkka, Juha & Willman, Alpo & Männistö, Hanna-Leena, 1989. "Consumption and investment in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 9/1989, Bank of Finland.
    2. Tarkka, Juha & Männistö, Hanna-Leena & Willman, Alpo, 1990. "Macroeconomic foundations and simulation properties of the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 2/1990, Bank of Finland.
    3. Tarkka, Juha & Willman, Alpo & Rasi, Chris-Marie, 1989. "Labour supply, wages and prices in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 6/1989, Bank of Finland.

  32. Tarkka, Juha & Willman, Alpo & Rasi, Chris-Marie, 1988. "Production and employment in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 14/1988, Bank of Finland.

    Cited by:

    1. Tarkka, Juha & Willman, Alpo & Männistö, Hanna-Leena, 1989. "Consumption and investment in the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 9/1989, Bank of Finland.
    2. Lassila, Jukka, 2002. "An Overlapping-Generations Simulation Model for the Lithuanian Economy," Discussion Papers 669, The Research Institute of the Finnish Economy.
    3. Tyrväinen, Timo, 1988. "Wages and employment in a unionized economy: Practical implications of theoretical considerations in the context of Finland," Bank of Finland Research Discussion Papers 20/1988, Bank of Finland.
    4. Skolnik, Amy, 1988. "How will 1992 affect the rest of the world? The reactions of some major countries and trade blocs towards EC integration," Bank of Finland Research Discussion Papers 24/1988, Bank of Finland.
    5. Tarkka, Juha & Männistö, Hanna-Leena & Willman, Alpo, 1990. "Macroeconomic foundations and simulation properties of the BOF4 quarterly model of the Finnish economy," Bank of Finland Research Discussion Papers 2/1990, Bank of Finland.
    6. Lassila, Jukka & Valkonen, Tarmo, 2002. "Social Security Financing and External Shocks," Discussion Papers 662, The Research Institute of the Finnish Economy.
    7. Forsman, Pentti & Heinonen, Tarja, 1988. "Dynamic models of the roundwood market in Finland," Bank of Finland Research Discussion Papers 31/1988, Bank of Finland.

  33. Willman, Alpo, 1988. "If the markka floated: Simulating the BOF4 model with fixed and floating exchange rates," Bank of Finland Research Discussion Papers 17/1988, Bank of Finland.

    Cited by:

    1. Esko Aurikko, 1989. "Rational exchange rate and price expectations under different exchange rate regimes in Finland," Finnish Economic Papers, Finnish Economic Association, vol. 2(1), pages 20-30, Spring.
    2. Willman, Alpo & Kortelainen, Mika & Mannisto, Hanna-Leena & Tujula, Mika, 2000. "The BOF5 macroeconomic model of Finland, structure and dynamic microfoundations," Economic Modelling, Elsevier, vol. 17(2), pages 275-303, April.

Articles

  1. Manu, Ana S. & McAdam, Peter & Willman, Alpo, 2022. "China’s great expansion: The role of factor substitution and technical progress," European Economic Review, Elsevier, vol. 141(C).

    Cited by:

    1. Lee, Jong-Wha & Song, Eunbi, 2025. "Demographic change and long-term economic growth path in Asia," Economic Modelling, Elsevier, vol. 147(C).
    2. Manu, Ana-Simona, 2022. "How sectoral technical progress and factor substitution shaped Japan’s structural transformation?," Working Paper Series 2641, European Central Bank.
    3. Zhang, Hao & Wang, Feng & Fan, Wenna & Jiang, Hongfei & Ling, Rui & Liu, Juan, 2025. "Estimation of capital stock and the elasticity of capital-labor substitution in provincial industries in China," International Review of Economics & Finance, Elsevier, vol. 102(C).
    4. Shujuan Wu & Minmin Li & Jianhua Xiao & Jianhua Tang, 2023. "Information accessibility, accounting manipulation, and sustainable development of digital enterprises: Based on double moderating effect model and panel PSM-DID method," PLOS ONE, Public Library of Science, vol. 18(3), pages 1-14, March.
    5. Kohsaka, Akira, 2025. "The end of miracle? China's economic growth pattern," International Economics, Elsevier, vol. 183(C).
    6. Chen, Bo & Xu, Huange & Li, Guangchen, 2023. "Entry deregulation and labor share: Evidence from China," Finance Research Letters, Elsevier, vol. 58(PD).
    7. Yang Liu & Siliang Wang, 2025. "Why Is It Possible for China to Reduce Its Dependence on Land Expropriation? An Analysis on the Land‐Expropriation Kuznets Curve," Growth and Change, Wiley Blackwell, vol. 56(4), December.
    8. Manuel A. Gómez, 2024. "Elasticity of substitution, long‐run growth, and convergence speed: A general framework," International Journal of Economic Theory, The International Society for Economic Theory, vol. 20(3), pages 352-370, September.

  2. McAdam, Peter & Willman, Alpo, 2018. "Unraveling The Skill Premium," Macroeconomic Dynamics, Cambridge University Press, vol. 22(1), pages 33-62, January.
    See citations under working paper version above.
  3. Miguel A. León-Ledesma & Peter McAdam & Alpo Willman, 2015. "Production Technology Estimates and Balanced Growth," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 77(1), pages 40-65, February.

    Cited by:

    1. Paul, Saumik, 2019. "A Decline in Labor's Share with Capital Accumulation and Complementary Factor Inputs: An Application of the Morishima Elasticity of Substitution," IZA Discussion Papers 12219, IZA Network @ LISER.
    2. Trenczek, Jan & Wacker, Konstantin M., 2023. "Human Capital Misallocation and Output per Worker Differences: Beyond Cobb-Douglas," GLO Discussion Paper Series 1331, Global Labor Organization (GLO).
    3. Thomas Ziesemer, 2023. "Labour-augmenting technical change data for alternative elasticities of substitution: growth, slowdown, and distribution dynamics," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 32(4), pages 449-475, May.
    4. Pedro R. D. Bom & Aitor Goti, 2018. "Public Capital and the Labor Income Share," Sustainability, MDPI, vol. 10(11), pages 1-17, October.
    5. Alvarez-Cuadrado, Francisco & Long, Ngo Van & Poschke, Markus, 2015. "Capital-Labor Substitution, Structural Change and the Labor Income Share," IZA Discussion Papers 8941, IZA Network @ LISER.
    6. Daan Steenkamp, 2016. "Factor substitution and productivity in New Zealand," Reserve Bank of New Zealand Discussion Paper Series DP2016/12, Reserve Bank of New Zealand.
    7. Jan Trenczek & Konstantin M. Wacker, 2023. "Accounting for cross-country output differences: A sectoral CES perspective," Working Papers 2023.09, International Network for Economic Research - INFER.
    8. Francisco Alvarez-Cuadrado & Ngo Van Long & Markus Poschke, 2016. "Capital-Labor Substitution, Structural Change and Growth," CESifo Working Paper Series 5928, CESifo.
    9. Michael Knoblach & Martin Roessler & Patrick Zwerschke, 2020. "The Elasticity of Substitution Between Capital and Labour in the US Economy: A Meta‐Regression Analysis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(1), pages 62-82, February.
    10. Kristkova, Z. Smeets & Gardebroek, K. & van Dijk, M. & van Meijl, H., 2015. "The impact of R&D on factor-augmenting technical change- an empirical assessment at the sector level," 2015 Conference, August 9-14, 2015, Milan, Italy 230229, International Association of Agricultural Economists.
    11. Manu, Ana-Simona, 2022. "How sectoral technical progress and factor substitution shaped Japan’s structural transformation?," Working Paper Series 2641, European Central Bank.
    12. Kenneth G. Stewart & Jiang Li, 2018. "Are factor biases and substitution identifiable? The Canadian evidence," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(2), pages 528-548, May.
    13. Marc Cowling & George Tanewski, 2019. "On the productive efficiency of Australian businesses: firm size and age class effects," Small Business Economics, Springer, vol. 53(3), pages 739-752, October.
    14. Saumik Paul, 2018. "Capital Skill Substitutability and the Labor Income Share: Identification Using the Morishima Elasticity of Subtitution," Working Papers id:12818, eSocialSciences.
    15. Manu, Ana S. & McAdam, Peter & Willman, Alpo, 2022. "China’s great expansion: The role of factor substitution and technical progress," European Economic Review, Elsevier, vol. 141(C).
    16. Julius Frieling & Reinhard Madlener, 2017. "The Turning Tide: How Energy has Driven the Transformation of the British Economy Since the Industrial Revolution," FCN Working Papers 7/2017, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    17. Hippolyte d'Albis & Ekrame Boubtane & Dramane Coulibaly, 2020. "Demographic Changes and the Labor Income Share," PSE Working Papers halshs-02278765, HAL.
    18. Saumik Paul, 2019. "A Skeptical Note on the Role of Constant Elasticity of Substitution in Labor Income Share Dynamics," ADBI Working Papers 944, Asian Development Bank Institute.
    19. Antonio Cutanda, 2022. "The elasticity of substitution and labor-saving innovations in the Spanish regions," Estudios de Economia, University of Chile, Department of Economics, vol. 49(2 Year 20), pages 123-144, December.
    20. Paul, Saumik, 2019. "Labor Income Share Dynamics with Variable Elasticity of Substitution," IZA Discussion Papers 12418, IZA Network @ LISER.
    21. Julius Frieling & Reinhard Madlener, 2017. "Fueling the US Economy: Energy as a Production Factor from the Great Depression until Today," FCN Working Papers 2/2017, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    22. Jiang, Wei & León-Ledesma, Miguel, 2018. "Variable markups and capital-labor substitution," Economics Letters, Elsevier, vol. 171(C), pages 34-36.
    23. Michael Knoblach & Fabian Stöckl, 2020. "What Determines The Elasticity Of Substitution Between Capital And Labor? A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 34(4), pages 847-875, September.
    24. Musa Orak, 2017. "Capital-Task Complementarity and the Decline of the U.S. Labor Share of Income," International Finance Discussion Papers 1200, Board of Governors of the Federal Reserve System (U.S.).
    25. Song, Eunbi, 2021. "What drives labor share change? Evidence from Korean industries," Economic Modelling, Elsevier, vol. 94(C), pages 370-385.
    26. Ken Stewart, 2018. "Normalized CES Supply Systems: Replication of Klump, McAdam, and Willman (2007)," Department Discussion Papers 1807, Department of Economics, University of Victoria.
    27. Dario Simon Judzik & Hector Sala Lorda, 2014. "The determinants of capital intensity in Japan and the U.S," Working Papers wpdea1404, Department of Applied Economics at Universitat Autonoma of Barcelona.
    28. Knoblach, Michael & Rößler, Martin & Zwerschke, Patrick, 2016. "The Elasticity of Factor Substitution Between Capital and Labor in the U.S. Economy: A Meta-Regression Analysis," CEPIE Working Papers 03/16, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    29. McAdam, Peter & Willman, Alpo, 2015. "Unraveling the skill premium," Working Paper Series 1800, European Central Bank.
    30. Li, Xiaoke & Xu, Zhipeng & Li, Xiaoping, 2025. "Aggregation effect of economic freedom and total factor productivity growth with biased technological change," Structural Change and Economic Dynamics, Elsevier, vol. 74(C), pages 855-877.
    31. Saumik Paul & Yoko Oishi, 2018. "A Primer on the Drivers of Labor Income Share," Working Papers id:12948, eSocialSciences.
    32. Agustin Velasquez, 2023. "Production Technology, Market Power, and the Decline of the Labor Share," IMF Working Papers 2023/032, International Monetary Fund.
    33. Cantore, Cristiano & Ferroni, Filippo & León-Ledesma, Miguel A., 2017. "The dynamics of hours worked and technology," Journal of Economic Dynamics and Control, Elsevier, vol. 82(C), pages 67-82.
    34. Robert S. Chirinko & Debdulal Mallick, 2017. "The Substitution Elasticity, Factor Shares, and the Low-Frequency Panel Model," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(4), pages 225-253, October.
    35. Chen, Xi, 2017. "Biased Technical Change, Scale, And Factor Substitution In U.S. Manufacturing Industries," Macroeconomic Dynamics, Cambridge University Press, vol. 21(2), pages 488-514, March.
    36. Miguel A. León-Ledesma & Dimitris Christopoulos, 2016. "Misallocation, Access to Finance, and Public Credit: Firm-Level Evidence," Asian Development Review, MIT Press, vol. 33(2), pages 119-143, September.
    37. Zha, Donglan & Kavuri, Anil Savio & Si, Songjian, 2017. "Energy biased technology change: Focused on Chinese energy-intensive industries," Applied Energy, Elsevier, vol. 190(C), pages 1081-1089.
    38. Del Río, Fernando & Rebelo, Francisco, 2025. "OECD labour share trends: Factor efficiency vs. market distortions in a neoclassical framework," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 2554-2591.
    39. Thomas Lebbe & Freddy Heylen, 2026. "On the elasticity of substitution between clean and dirty energy: Reconciling empirical estimates and their implications for model calibration," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 26/1140, Ghent University, Faculty of Economics and Business Administration.
    40. Kenneth G. Stewart & Jiang Li, 2014. "Factor substitution, factor-augmenting technical progress, and trending factor shares: the Canadian evidence," Econometrics Working Papers 1403, Department of Economics, University of Victoria.

  4. Cristiano Cantore & Miguel León-Ledesma & Peter McAdam & Alpo Willman, 2014. "Shocking Stuff: Technology, Hours, And Factor Substitution," Journal of the European Economic Association, European Economic Association, vol. 12(1), pages 108-128, February.
    See citations under working paper version above.
  5. McAdam, Peter & Willman, Alpo, 2013. "Medium Run Redux," Macroeconomic Dynamics, Cambridge University Press, vol. 17(4), pages 695-727, June.

    Cited by:

    1. Patrick F ve & Jean-Guillaume Sahuc, 2016. "In Search of the Transmission Mechanism of Fiscal Policy in the Euro Area," Working papers 585, Banque de France.
    2. Ioannis Bournakis & Dimitris Christopoulos & Sushanta Mallick, 2018. "Knowledge Spillovers And Output Per Worker: An Industry‐Level Analysis For Oecd Countries," Economic Inquiry, Western Economic Association International, vol. 56(2), pages 1028-1046, April.
    3. Dieppe, Alistair & González Pandiella, Alberto & Willman, Alpo, 2012. "The ECB's New Multi-Country Model for the euro area: NMCM — Simulated with rational expectations," Economic Modelling, Elsevier, vol. 29(6), pages 2597-2614.
    4. Jean-Guillaume Sahuc & Sarah Mouabbi, 2019. "Evaluating the Macroeconomic Effects of the ECB's Unconventional Monetary Policies," EconomiX Working Papers 2019-2, University of Paris Nanterre, EconomiX.
    5. Cristiano Cantore & Paul Levine & Joseph Pearlman & Bo Yang, 2014. "CES Technology and Business Cycle Fluctuations," School of Economics Discussion Papers 0414, School of Economics, University of Surrey.
    6. McAdam, Peter & Willman, Alpo, 2011. "Technology, utilization and inflation: what drives the New Keynesian Phillips Curve?," Working Paper Series 1369, European Central Bank.
    7. Dimitris Christopoulos & Peter McAdam, 2012. "Openness, Efficiency and Technology: An Industry Assessment," School of Economics Discussion Papers 0812, School of Economics, University of Surrey.
    8. Christophe Cahn & Julien Matheron & Jean-Guillaume Sahuc, 2014. "Assessing the macroeconomic effects of LTROS," Working papers 528, Banque de France.
    9. Lawrence E. Blume & Steven N. Durlauf, 2015. "Capital in the Twenty-First Century: A Review Essay," Journal of Political Economy, University of Chicago Press, vol. 123(4), pages 749-777.
    10. Helmut Hofer & Torsten Schmidt & Klaus Weyerstrass, 2010. "Practice and prospects of medium-term economic forecasting," NRN working papers 2010-12, The Austrian Center for Labor Economics and the Analysis of the Welfare State, Johannes Kepler University Linz, Austria.
    11. Robert Allen & Robert C. Allen, 2007. "Engel`s Pause: A Pessimist`s Guide to the British Industrial Revolution," Economics Series Working Papers 315, University of Oxford, Department of Economics.
    12. McAdam, Peter & Muck, Jakub & Growiec, Jakub, 2015. "Will the true labor share stand up?," Working Paper Series 1806, European Central Bank.
    13. Jakub Growiec & Anna Pajor & Dorota Gorniak & Artur Predki, 2015. "The shape of aggregate production functions: evidence from estimates of the World Technology Frontier," Bank i Kredyt, Narodowy Bank Polski, vol. 46(4), pages 299-326.
    14. Rainer Klump & Peter McAdam & Alpo Willman, 2012. "The Normalized Ces Production Function: Theory And Empirics," Journal of Economic Surveys, Wiley Blackwell, vol. 26(5), pages 769-799, December.
    15. Jakub Growiec & Peter McAdam & Jakub Mućk, 2019. "On the optimal labor income share," NBP Working Papers 311, Narodowy Bank Polski.
    16. McAdam, Peter & Bridji, Slim & Charpe, Matthieu, 2019. "Labor share and growth in the long run," Working Paper Series 2251, European Central Bank.
    17. Judzik, Dario, 2014. "Heterogeneous labor demand: sectoral elasticity and trade effects in the U.S., Germany and Sweden," MPRA Paper 62768, University Library of Munich, Germany.
    18. Fève, Patrick & Sahuc, Jean-Guillaume, 2013. "On the Size of the Government Spending Multiplier in the Euro Area," IDEI Working Papers 776, Institut d'Économie Industrielle (IDEI), Toulouse, revised Nov 2013.
    19. Eric Jondeau & Jean-Guillaume Sahuc, 2018. "A General Equilibrium Appraisal of Capital Shortfall," Working papers 668, Banque de France.
    20. Cristiano Cantore & Miguel León-Ledesma & Peter McAdam & Alpo Willman, 2014. "Shocking Stuff: Technology, Hours, And Factor Substitution," Journal of the European Economic Association, European Economic Association, vol. 12(1), pages 108-128, February.
    21. Matteo Ghilardi & Raffaele Rossi, 2014. "Aggregate Stability and Balanced-Budget Rules," IMF Working Papers 2014/023, International Monetary Fund.
    22. Allen, Robert C., 2009. "Engels' pause: Technical change, capital accumulation, and inequality in the british industrial revolution," Explorations in Economic History, Elsevier, vol. 46(4), pages 418-435, October.
    23. Abad, Nicolas & Seegmuller, Thomas & Venditti, Alain, 2017. "Nonseparable Preferences Do Not Rule Out Aggregate Instability Under Balanced-Budget Rules: A Note," Macroeconomic Dynamics, Cambridge University Press, vol. 21(1), pages 259-277, January.
    24. McAdam, Peter & Willman, Alpo & León-Ledesma, Miguel A., 2009. "Identifying the elasticity of substitution with biased technical change," Working Paper Series 1001, European Central Bank.
    25. Cantore, Cristiano & Levine, Paul, 2011. "Getting Normalization Right: Dealing with ‘Dimensional Constants’ in Macroeconomics," Dynare Working Papers 9, CEPREMAP.
    26. Niels Kemper & Dierk Herzer & Luca Zamparelli, 2011. "Balanced growth and structural breaks: evidence for Germany," Empirical Economics, Springer, vol. 40(2), pages 409-424, April.
    27. Jose Barrales-Ruiz, Ivan Mendieta-Muñoz, Codrina Rada, Daniele Tavani, Rudiger von Arnim, 2021. "The distributive cycle: Evidence and current debates," Working Paper Series, Department of Economics, University of Utah 2021-01, University of Utah, Department of Economics.
    28. Ken Stewart, 2018. "Normalized CES Supply Systems: Replication of Klump, McAdam, and Willman (2007)," Department Discussion Papers 1807, Department of Economics, University of Victoria.
    29. Ali YOUSEFI & Sadegh KHALILIAN & Mohammad Hadi HAJIAN, 2010. "The Role of Water Sector in Iranian Economy: A CGE Modeling Approach," EcoMod2010 259600173, EcoMod.
    30. Growiec, Jakub & McAdam, Peter & Mućk, Jakub, 2018. "Endogenous labor share cycles: Theory and evidence," Journal of Economic Dynamics and Control, Elsevier, vol. 87(C), pages 74-93.
    31. Dario Simon Judzik & Hector Sala Lorda, 2014. "The determinants of capital intensity in Japan and the U.S," Working Papers wpdea1404, Department of Applied Economics at Universitat Autonoma of Barcelona.
    32. Ariell Reshef & Gianluca Santoni, 2019. "Are Your Labor Shares Set in Beijing? The View through the Lens of Global Value Chains," Working Papers 2019-16, CEPII research center.
    33. Jean-Guillaume Sahuc & Grégory Levieuge & José Garcia-Revelo, 2024. "Revisiting 15 Years of Unusual Transatlantic Monetary Policies," EconomiX Working Papers 2024-13, University of Paris Nanterre, EconomiX.
    34. McAdam, Peter & Willman, Alpo, 2015. "Unraveling the skill premium," Working Paper Series 1800, European Central Bank.
    35. Miguel A. León-Ledesma & Peter McAdam & Alpo Willman, 2015. "Production Technology Estimates and Balanced Growth," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 77(1), pages 40-65, February.
    36. Avouyi-Dovi, Sanvi & Sahuc, Jean-Guillaume, 2016. "On the sources of macroeconomic stability in the euro area," European Economic Review, Elsevier, vol. 83(C), pages 40-63.
    37. Bournakis, Ioannis & Christopoulos, Dimitris & Mallick, Sushanta, 2015. "Knowledge Spillovers, Absorptive Capacity and Growth: An Industry-level Analysis for OECD Countries," MPRA Paper 63542, University Library of Munich, Germany.
    38. Mr. Cristiano Cantore & Mr. Paul L Levine & Mr. Giovanni Melina, 2013. "A Fiscal Stimulus and Jobless Recovery," IMF Working Papers 2013/017, International Monetary Fund.
    39. Chen, Xi, 2017. "Biased Technical Change, Scale, And Factor Substitution In U.S. Manufacturing Industries," Macroeconomic Dynamics, Cambridge University Press, vol. 21(2), pages 488-514, March.
    40. Jaumandreu, Jordi & Doraszelski, Ulrich, 2014. "Measuring the bias of technological change," CEPR Discussion Papers 10275, Centre for Economic Policy Research.
    41. Christophe Cahn & Julien Matheron & Jean‐Guillaume Sahuc, 2017. "Assessing the Macroeconomic Effects of LTROs during the Great Recession," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(7), pages 1443-1482, October.
    42. McAdam, Peter & Willman, Alpo & León-Ledesma, Miguel A., 2010. "In dubio pro CES - Supply estimation with mis-specified technical change," Working Paper Series 1175, European Central Bank.

  6. PETER McADAM & ALPO WILLMAN, 2013. "Technology, Utilization, and Inflation: What Drives the New Keynesian Phillips Curve?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(8), pages 1547-1579, December.
    See citations under working paper version above.
  7. Dieppe, Alistair & Pandiella, Alberto González & Hall, Stephen & Willman, Alpo, 2013. "Limited information minimal state variable learning in a medium-scale multi-country model," Economic Modelling, Elsevier, vol. 33(C), pages 808-825.

    Cited by:

    1. Marek Jarociński & Bartosz Maćkowiak, 2014. "Choosing variables in macroeconomic modelling," Research Bulletin, European Central Bank, vol. 20, pages 5-8.
    2. Bletzinger, Tilman & Lalik, Magdalena, 2017. "The impact of constrained monetary policy on fiscal multipliers on output and inflation," Working Paper Series 2019, European Central Bank.
    3. Willman, Alpo & Dieppe, Alistair & Baumann, Ursel & González Pandiella, Alberto, 2014. "Model of the United States economy with learning MUSEL," Working Paper Series 1745, European Central Bank.
    4. Dieppe, Alistair & Gilhooly, Robert & Han, Jenny & Korhonen, Iikka & Lodge, David, 2018. "The transition of China to sustainable growth – implications for the global economy and the euro area," Occasional Paper Series 206, European Central Bank.
    5. Kalin Nikolov & Alexander Popov, 2014. "The sovereign-bank nexus," Research Bulletin, European Central Bank, vol. 20, pages 2-4.
    6. Vetlov, Igor & Attinasi, Maria Grazia & Lalik, Magdalena, 2017. "Fiscal spillovers in the euro area a model-based analysis," Working Paper Series 2040, European Central Bank.
    7. Dieppe, Alistair & Mourinho Félix, Ricardo & Marchiori, Luca & Grech, Owen & Albani, Maria & Lalouette, Laure & Kulikov, Dmitry & Papadopoulou, Niki & Sideris, Dimitris & Irac, Delphine & Gordo Mora, , 2015. "Public debt, population ageing and medium-term growth," Occasional Paper Series 165, European Central Bank.
    8. Angelini, Elena & Ca' Zorzi, Michele & Forster, Katrin, 2014. "External and macroeconomic adjustment in the larger euro area countries," Working Paper Series 1647, European Central Bank.
    9. Anderton, Robert & Elding, Catherine & Haroutunian, Stephan & Jarvis, Valerie & Aranki, Ted & Rusinova, Desislava & Labhard, Vincent & Jacquinot, Pascal & Dieppe, Alistair & Szörfi, Béla, 2014. "Potential output from a euro area perspective," Occasional Paper Series 156, European Central Bank.
    10. Norbert Christopeit & Michael Massmann, 2017. "Strong consistency of the least squares estimator in regression models with adaptive learning," WHU Working Paper Series - Economics Group 17-07, WHU - Otto Beisheim School of Management.
    11. Norbert Christopeit & Michael Massmann, 2018. "Strong consistency of the least squares estimator in regression models with adaptive learning," Tinbergen Institute Discussion Papers 18-045/III, Tinbergen Institute.
    12. Elena Angelini & Michele Ca' Zorzi, 2014. "External and macroeconomic adjustment in Spain and Germany," Research Bulletin, European Central Bank, vol. 20, pages 9-12.

  8. Dieppe, Alistair & González Pandiella, Alberto & Willman, Alpo, 2012. "The ECB's New Multi-Country Model for the euro area: NMCM — Simulated with rational expectations," Economic Modelling, Elsevier, vol. 29(6), pages 2597-2614.
    See citations under working paper version above.
  9. Rainer Klump & Peter McAdam & Alpo Willman, 2012. "The Normalized Ces Production Function: Theory And Empirics," Journal of Economic Surveys, Wiley Blackwell, vol. 26(5), pages 769-799, December.
    See citations under working paper version above.
  10. Miguel A. León-Ledesma & Peter McAdam & Alpo Willman, 2010. "Identifying the Elasticity of Substitution with Biased Technical Change," American Economic Review, American Economic Association, vol. 100(4), pages 1330-1357, September.
    See citations under working paper version above.
  11. Klump, Rainer & McAdam, Peter & Willman, Alpo, 2008. "Unwrapping some euro area growth puzzles: Factor substitution, productivity and unemployment," Journal of Macroeconomics, Elsevier, vol. 30(2), pages 645-666, June.

    Cited by:

    1. Ioannis Bournakis & Dimitris Christopoulos & Sushanta Mallick, 2018. "Knowledge Spillovers And Output Per Worker: An Industry‐Level Analysis For Oecd Countries," Economic Inquiry, Western Economic Association International, vol. 56(2), pages 1028-1046, April.
    2. Ivan Mendieta-Muñoz, 2017. "Is Potential Output Growth Falling?," Working Paper Series, Department of Economics, University of Utah 2017_03, University of Utah, Department of Economics.
    3. Chirinko, Robert S., 2008. "[sigma]: The long and short of it," Journal of Macroeconomics, Elsevier, vol. 30(2), pages 671-686, June.
    4. Alistair DIEPPE & Alberto GONZÁLEZ PANDIELLA & Stephen HALL & Alpo WILLMAN, 2010. "MEMBER: Multi-Country Euro Area Model with Boundedly Estimated Rationality," EcoMod2010 259600046, EcoMod.
    5. Akira MOMOTA & Tomoya SAKAGAMI & Akihisa SHIBATA, 2019. "Reexamination of the Serendipity Theorem from the Stability Viewpoint," JODE - Journal of Demographic Economics, Cambridge University Press, vol. 85(1), pages 43-70, March.
    6. Eric Miller, 2008. "An Assessment of CES and Cobb-Douglas Production Functions: Working Paper 2008-05," Working Papers 19992, Congressional Budget Office.
    7. Wei, Taoyuan & Liu, Yang, 2019. "Estimation of resource-specific technological change," Technological Forecasting and Social Change, Elsevier, vol. 138(C), pages 29-33.
    8. Wenhan Ren & Jing Ni & Wen Jiao & Yan Li, 2023. "Explore the key factors of sustainable development: A bibliometric and visual analysis of technological progress," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(1), pages 492-509, February.
    9. Kenneth G. Stewart & Jiang Li, 2018. "Are factor biases and substitution identifiable? The Canadian evidence," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(2), pages 528-548, May.
    10. Rainer Klump & Peter McAdam & Alpo Willman, 2012. "The Normalized Ces Production Function: Theory And Empirics," Journal of Economic Surveys, Wiley Blackwell, vol. 26(5), pages 769-799, December.
    11. Sebastian Gechert & Tomas Havranek & Zuzana Irsova & Dominika Ehrenbergerova, 2019. "Death to the Cobb-Douglas Production Function? A Quantitative Survey of the Capital-Labor Substitution Elasticity," Working Papers 2019/8, Czech National Bank, Research and Statistics Department.
    12. Saam, Marianne, 2014. "The identification of directed technical change revisited," ZEW Discussion Papers 14-127, ZEW - Leibniz Centre for European Economic Research.
    13. Ivan Mendieta-Munoz & Mengheng Li, 2018. "Are long-run output growth rates falling?," Working Paper Series, Department of Economics, University of Utah 2018_02, University of Utah, Department of Economics.
    14. Sun, Xiaojun & Lei, Yalin & Wang, Xue-Chao & Zhao, Jun & Varbanov, Petar Sabev, 2024. "Directional nature of technological progress in the petrochemical industry prompting energy marginal substitution," Energy, Elsevier, vol. 310(C).
    15. Mengheng Li & Irma Hindrayanto, 2018. "Looking for the stars: Estimating the natural rate of interest," Working Paper Series 51, Economics Discipline Group, UTS Business School, University of Technology, Sydney.
    16. Saltari, Enrico & Federici, Daniela, 2013. "Elasticity of substitution and technical progress: Is there a misspecification problem?," MPRA Paper 52194, University Library of Munich, Germany.
    17. Sriram Shankar & B. Bhaskara Rao, 2013. "Estimates of the Long-Run Growth Rate of A ustralia," Economic Papers, The Economic Society of Australia, vol. 32(1), pages 95-98, March.
    18. Samuele Ialenti & Guido Pialli, 2024. "The increase in the elasticity of substitution between capital and labour: a repeated cross-country investigation," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 33(3), pages 380-400, April.
    19. Xue, Jianpo & Yip, Chong K., 2013. "Aggregate elasticity of substitution and economic growth: A synthesis," Journal of Macroeconomics, Elsevier, vol. 38(PA), pages 60-75.
    20. Willman, Alpo & Dieppe, Alistair & González Pandiella, Alberto, 2011. "The ECB's New Multi-Country Model for the euro area: NMCM - simulated with rational expectations," Working Paper Series 1315, European Central Bank.
    21. Andreas Irmen & Rainer Klump, 2009. "Factor Substitution, Income Distribution and Growth in a Generalized Neoclassical Model," German Economic Review, Verein für Socialpolitik, vol. 10(4), pages 464-479, November.
    22. Yan Wang & Lingling Zuo & Shujing Qian, 2022. "Green-Biased Technical Change and Its Influencing Factors of Agriculture Industry: Empirical Evidence at the Provincial Level in China," IJERPH, MDPI, vol. 19(23), pages 1-24, December.
    23. Federici, Daniela & Saltari, Enrico & Wymer, Clifford, 2015. "Endogenizing the ICT sector: A multi-sector approach," MPRA Paper 66723, University Library of Munich, Germany.
    24. Daniela Federici & Enrico Saltari, 2016. "Elasticity of substitution and the stagnation of Italian productivity," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 25(5), pages 503-515, July.
    25. Luciano Boggio & Vincenzo Dall'Aglio & Marco Magnani, 2009. "On Labour Shares in Recent Decades: A Survey," DISCE - Quaderni dell'Istituto di Teoria Economica e Metodi Quantitativi itemq0957, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    26. Hai Ha Pham & Ngoc-Sang Pham, 2025. "Wariness and Poverty Traps," Papers 2510.14418, arXiv.org.
    27. Knoblach, Michael & Stöckl, Fabian, 2019. "What determines the elasticity of substitution between capital and labor? A literature review," CEPIE Working Papers 01/19, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    28. Guo, Qing & Zeng, Xiangquan & Yuan, Lulu, 2026. "How population aging and digital transformation reshape labor income share? Mechanisms of firm-level substitution and urban job expansion," Economic Modelling, Elsevier, vol. 158(C).
    29. Ken Stewart, 2018. "Normalized CES Supply Systems: Replication of Klump, McAdam, and Willman (2007)," Department Discussion Papers 1807, Department of Economics, University of Victoria.
    30. Marco Di Pietro & Enrico Saltari, 2018. "Economic Fluctuations in the U.S. and Euro Area: Quantifying the Contribution of Technical Change," Southern Economic Journal, John Wiley & Sons, vol. 85(1), pages 203-216, July.
    31. Xiaoxiao Zhou & Ming Xia & Teng Zhang & Juntao Du, 2020. "Energy- and Environment-Biased Technological Progress Induced by Different Types of Environmental Regulations in China," Sustainability, MDPI, vol. 12(18), pages 1-26, September.
    32. Bournakis, Ioannis & Christopoulos, Dimitris & Mallick, Sushanta, 2015. "Knowledge Spillovers, Absorptive Capacity and Growth: An Industry-level Analysis for OECD Countries," MPRA Paper 63542, University Library of Munich, Germany.
    33. Jochen Hartwig, 2014. "Testing Okun's Law with Swiss Industry Data," KOF Working papers 14-357, KOF Swiss Economic Institute, ETH Zurich.
    34. Chen, Xi, 2017. "Biased Technical Change, Scale, And Factor Substitution In U.S. Manufacturing Industries," Macroeconomic Dynamics, Cambridge University Press, vol. 21(2), pages 488-514, March.
    35. Del Río, Fernando & Rebelo, Francisco, 2025. "OECD labour share trends: Factor efficiency vs. market distortions in a neoclassical framework," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 2554-2591.
    36. Kenneth G. Stewart & Jiang Li, 2014. "Factor substitution, factor-augmenting technical progress, and trending factor shares: the Canadian evidence," Econometrics Working Papers 1403, Department of Economics, University of Victoria.

  12. Rainer Klump & Peter McAdam & Alpo Willman, 2007. "Factor Substitution and Factor-Augmenting Technical Progress in the United States: A Normalized Supply-Side System Approach," The Review of Economics and Statistics, MIT Press, vol. 89(1), pages 183-192, February.

    Cited by:

    1. Zhenqiu Wu & Biqing Yue & Yue Dai & Yujin Ge & Guangmei Lu & Fei Zu, 2024. "The influence of biased technical progress on employment scale of the circulation industry: Evidence from China," PLOS ONE, Public Library of Science, vol. 19(3), pages 1-25, March.
    2. Shuifeng Hong & Yanwen Han & Yimin Luo & Yao Zhang, 2026. "Critical metal price fluctuation, biased technological progress and total factor productivity of new energy battery enterprises," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 39(1), pages 135-151, March.
    3. Hala Abu-Kalla & Ruslana Rachel Palatnik & Ofira Ayalon & Mordechai Shechter, 2020. "Hoard or Exploit? Intergenerational Allocation of Exhaustible Natural Resources," Energies, MDPI, vol. 13(24), pages 1-20, December.
    4. M. Alejandro Cardenete & M. Carmen Lima & Ferran Sancho, 2013. "Are There Key Sectors? An Appraisal Using Applied General Equilibrium," The Review of Regional Studies, Southern Regional Science Association, vol. 43(2,3), pages 111-129, Winter.
    5. Florian Brugger & Christian Gehrke, 2017. "The Neoclassical Approach to Induced Technical Change: From Hicks to Acemoglu," Metroeconomica, Wiley Blackwell, vol. 68(4), pages 730-776, November.
    6. Natvik, Gisle J., 2013. "The political economy of fiscal deficits and government production," European Economic Review, Elsevier, vol. 58(C), pages 81-94.
    7. Serrano-Quintero, Rafael, 2023. "The aggregate productivity slowdown: A system approach," Economics Letters, Elsevier, vol. 223(C).
    8. Ziesemer, Thomas, 2025. "A data set for domestic and foreign private and public R&D stocks and labour-augmenting technical change for 44 rich or emerging economies with explorations on panel unit roots, cointegration, growth rate slowdown, and con- or divergence," MERIT Working Papers 2025-018, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    9. Trenczek, Jan & Wacker, Konstantin M., 2023. "Human Capital Misallocation and Output per Worker Differences: Beyond Cobb-Douglas," GLO Discussion Paper Series 1331, Global Labor Organization (GLO).
    10. Ara Jo, 2020. "The Elasticity of Substitution between Clean and Dirty Energy with Technological Bias," CER-ETH Economics working paper series 20/344, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    11. Lin Liang & Peng Liang, 2026. "Can Industrial Robot Applications Enhance Corporate Capital Allocation Efficiency?—Based on the Perspective of Cash Holdings," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 47(2), pages 438-456, March.
    12. Xueli Wang & Caizhi Sun & Song Wang & Zhixiong Zhang & Wei Zou, 2018. "Going Green or Going Away? A Spatial Empirical Examination of the Relationship between Environmental Regulations, Biased Technological Progress, and Green Total Factor Productivity," IJERPH, MDPI, vol. 15(9), pages 1-23, September.
    13. Ken-ichi Hashimoto & Ryonghun Im & Takuma Kunieda & Akihisa Shibata, 2021. "Financial Destabilization," KIER Working Papers 1054, Kyoto University, Institute of Economic Research.
    14. Hideyuki Mizobuchi, 2015. "Multiple Directions for Measuring Biased Technical Change," CEPA Working Papers Series WP092015, School of Economics, University of Queensland, Australia.
    15. Lilia Maliar & Serguei Maliar & John B. Taylor & Inna Tsener, 2020. "A tractable framework for analyzing a class of nonstationary Markov models," Quantitative Economics, Econometric Society, vol. 11(4), pages 1289-1323, November.
    16. Chan, Gabriel & Reilly, John M. & Paltsev, Sergey & Chen, Y.-H. Henry, 2012. "The Canadian oil sands industry under carbon constraints," Energy Policy, Elsevier, vol. 50(C), pages 540-550.
    17. Thomas Ziesemer, 2023. "Labour-augmenting technical change data for alternative elasticities of substitution: growth, slowdown, and distribution dynamics," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 32(4), pages 449-475, May.
    18. Zhifeng Cai, 2020. "Secular Stagnation, Financial Frictions, and Land Prices," Departmental Working Papers 202001, Rutgers University, Department of Economics.
    19. Lucciano Villacorta, 2016. "Estimating Country Heterogeneity in Capital - Labor Substitution Using Panel Data," Working Papers Central Bank of Chile 788, Central Bank of Chile.
    20. Olivier CARDI & Romain RESTOUT, 2023. "Why Hours Worked Decline Less After Technology Shocks?," Working Papers of BETA 2023-30, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    21. Pengju Wang & Guanghao Wu, 2025. "Modernization and Elasticity of Substitution in China’s Grain Production: Evidence from 1991 to 2023," Agriculture, MDPI, vol. 15(12), pages 1-21, June.
    22. Alvarez-Cuadrado, Francisco & Long, Ngo Van & Poschke, Markus, 2015. "Capital-Labor Substitution, Structural Change and the Labor Income Share," IZA Discussion Papers 8941, IZA Network @ LISER.
    23. Havranek, Tomas & Gechert, Sebastian & Irsova, Zuzana & Kolcunova, Dominika, 2021. "Measuring Capital-Labor Substitution: The Importance of Method Choices and Publication Bias," CEPR Discussion Papers 15687, Centre for Economic Policy Research.
    24. Akaev, Askar & Devezas, Tessaleno & Ichkitidze, Yuri & Sarygulov, Askar, 2021. "Forecasting the labor intensity and labor income share for G7 countries in the digital age," Technological Forecasting and Social Change, Elsevier, vol. 167(C).
    25. Clemens Struck & Adnan Velic, 2017. "Automation, New Technology, and Non-Homothetic Preferences," Trinity Economics Papers tep1217, Trinity College Dublin, Department of Economics.
    26. Daan Steenkamp, 2016. "Factor substitution and productivity in New Zealand," Reserve Bank of New Zealand Discussion Paper Series DP2016/12, Reserve Bank of New Zealand.
    27. Takuma Kunieda & Akihisa Shibata, 2024. "Insurance against Aggregate Shocks," Discussion Paper Series 267, School of Economics, Kwansei Gakuin University.
    28. Peter McAdam & Jakub Muck & Jakub Growiec, 2015. "Endogenous Labor Share Cycles: Theory and Evidence," 2015 Meeting Papers 62, Society for Economic Dynamics.
    29. Irmen, Andreas, 2015. "A Generalized Steady-State Growth Theorem," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113141, Verein für Socialpolitik / German Economic Association.
    30. Andreas Irmen & Amer Tabakovic, 2015. "Endogenous Capital- and Labor-Augmenting Technical Change in the Neoclassical Growth Model," CESifo Working Paper Series 5643, CESifo.
    31. Jan Trenczek & Konstantin M. Wacker, 2023. "Accounting for cross-country output differences: A sectoral CES perspective," Working Papers 2023.09, International Network for Economic Research - INFER.
    32. Baldi, Guido & Pons, Martina, 2019. "The Evolution of Factor Shares: Evidence from Switzerland," MPRA Paper 92408, University Library of Munich, Germany.
    33. Daron Acemoglu & James A. Robinson, 2015. "The Rise and Decline of General Laws of Capitalism," Journal of Economic Perspectives, American Economic Association, vol. 29(1), pages 3-28, Winter.
    34. Luisito BERTINELLI & Olivier CARDI & Romain RESTOUT, 2021. "Labor Market Effects Of Technology Shocks Biased Toward The Traded Sector," Working Papers of BETA 2021-09, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    35. Xiang, Tao & Huang, Jikun & Kancs, d'Artis & Swinnen, Johan F.M., 2009. "Standards Driven Rural Development: A General Equilibrium Model with Market Imperfections," 2009 Conference, August 16-22, 2009, Beijing, China 51476, International Association of Agricultural Economists.
    36. Havranek, Tomas & Irsova, Zuzana & Gechert, Sebastian & Kolcunova, Dominika, 2019. "Death to the Cobb-Douglas Production Function? A Meta-Analysis of the Capital-Labor Substitution Elasticity," MetaArXiv 6um5g, Center for Open Science.
    37. Frederick Guy & Peter Skott, 2007. "Information and communications technologies,coordination and control, and the distribution of income," UMASS Amherst Economics Working Papers 2007-11, University of Massachusetts Amherst, Department of Economics.
    38. Bosi, Stefano & Seegmuller, Thomas, 2010. "On the role of progressive taxation in a Ramsey model with heterogeneous households," Journal of Mathematical Economics, Elsevier, vol. 46(6), pages 977-996, November.
    39. Cardi, Olivier & Restout, Romain, 2023. "Sectoral fiscal multipliers and technology in open economy," Journal of International Economics, Elsevier, vol. 144(C).
    40. Ma, Chunbo & Stern, David I., 2016. "Long-run estimates of interfuel and interfactor elasticities," Resource and Energy Economics, Elsevier, vol. 46(C), pages 114-130.
    41. Zhang, Hongsong, 2019. "Non-neutral technology, firm heterogeneity, and labor demand," Journal of Development Economics, Elsevier, vol. 140(C), pages 145-168.
    42. Ezra Oberfield & Devesh Raval, 2012. "Micro data and macro technology," Working Paper Series WP-2012-11, Federal Reserve Bank of Chicago.
    43. Friedrich Kreuser & Rulof Burger & Neil Rankin, 2015. "The elasticity of substitution and labour-displacing technical change in post-apartheid South Africa," WIDER Working Paper Series wp-2015-101, World Institute for Development Economic Research (UNU-WIDER).
    44. Daniels, Gerald Eric & Kakar, Venoo, 2017. "Normalized CES supply-side system approach: How to replicate Klump, McAdam, and Willman (Review of Economics and Statistics, 2007)," Economics Discussion Papers 2017-70, Kiel Institute for the World Economy.
    45. Dmitry Plotnikov, 2014. "Hysteresis in Unemployment and Jobless Recoveries," IMF Working Papers 2014/077, International Monetary Fund.
    46. Straub, Ludwig & Ulbricht, Robert, 2016. "Endogenous Second Moments: A Unified Approach to Fluctuations in Risk, Dispersion, and Uncertainty," TSE Working Papers 16-664, Toulouse School of Economics (TSE), revised Mar 2018.
    47. Feijoo Moreira, Sergio, 2022. "Inside the decline of the labor share: Technical change, market power, and structural change," Journal of Economic Dynamics and Control, Elsevier, vol. 145(C).
    48. Carlos Bethencourt & Fernando Perera-Tallo, 2011. "Predation, Labor Share and Development," DEGIT Conference Papers c016_039, DEGIT, Dynamics, Economic Growth, and International Trade.
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    51. Esteban Aucejo & Jonathan James, 2019. "The Path to College Education: The Role of Math and Verbal Skills," Working Papers 1901, California Polytechnic State University, Department of Economics.
    52. Wei, Taoyuan & Liu, Yang, 2019. "Estimation of resource-specific technological change," Technological Forecasting and Social Change, Elsevier, vol. 138(C), pages 29-33.
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    204. Igor Fedotenkov, 2016. "Labour Shares, Fertility and Longevity in an OLG model," Bank of Lithuania Working Paper Series 28, Bank of Lithuania.

  13. Peter McAdam & Alpo Willman, 2007. "Productivity growth in the euro area," Research Bulletin, European Central Bank, vol. 6, pages 7-9.

    Cited by:

    1. Alistair DIEPPE & Alberto GONZÁLEZ PANDIELLA & Stephen HALL & Alpo WILLMAN, 2010. "MEMBER: Multi-Country Euro Area Model with Boundedly Estimated Rationality," EcoMod2010 259600046, EcoMod.
    2. Willman, Alpo & Dieppe, Alistair & González Pandiella, Alberto, 2011. "The ECB's New Multi-Country Model for the euro area: NMCM - simulated with rational expectations," Working Paper Series 1315, European Central Bank.

  14. Rainer Klump & Peter McAdam & Alpo Willman, 2007. "The long-term sucCESs of the neoclassical growth model," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 23(1), pages 94-114, Spring.

    Cited by:

    1. Guisinger, Amy Y., 2020. "Gender differences in the volatility of work hours and labor demand," Journal of Macroeconomics, Elsevier, vol. 66(C).
    2. Alistair DIEPPE & Alberto GONZÁLEZ PANDIELLA & Stephen HALL & Alpo WILLMAN, 2010. "MEMBER: Multi-Country Euro Area Model with Boundedly Estimated Rationality," EcoMod2010 259600046, EcoMod.
    3. Dieppe, Alistair & González Pandiella, Alberto & Willman, Alpo, 2012. "The ECB's New Multi-Country Model for the euro area: NMCM — Simulated with rational expectations," Economic Modelling, Elsevier, vol. 29(6), pages 2597-2614.
    4. Sebastian Barnes & Simon Price & Maria Sebastia Barriel, 2008. "The elasticity of substitution: evidence from a UK firm-level data set," Bank of England Staff Working Paper series 348, Bank of England.
    5. Yazid Dissou & Lilia Karnizova & Qian Sun, 2012. "Industry-level Econometric Estimates of Energy-capital-labour Substitution with a Nested CES Production Function," Working Papers 1214E, University of Ottawa, Department of Economics.
    6. Michael Knoblach & Martin Roessler & Patrick Zwerschke, 2020. "The Elasticity of Substitution Between Capital and Labour in the US Economy: A Meta‐Regression Analysis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(1), pages 62-82, February.
    7. Beau Soederhuizen & Bert van Stiphout-Kramer & Harro van Heuvelen & Rob Luginbuhl, 2021. "Optimal capital ratios for banks in the euro area," CPB Discussion Paper 429, CPB Netherlands Bureau for Economic Policy Analysis.
    8. Feijoo Moreira, Sergio, 2022. "Inside the decline of the labor share: Technical change, market power, and structural change," Journal of Economic Dynamics and Control, Elsevier, vol. 145(C).
    9. Matei, Ani & Matei, Lucica, 2011. "Knowledge marketing and development in the new knowledge-based economy," MPRA Paper 31474, University Library of Munich, Germany, revised 10 Jun 2011.
    10. Manu, Ana-Simona, 2022. "How sectoral technical progress and factor substitution shaped Japan’s structural transformation?," Working Paper Series 2641, European Central Bank.
    11. Matei, Ani & Matei, Lucica, 2010. "Reducing the administrative expenditures as source for increasing the efficiency of local governance under conditions of the financial crisis," MPRA Paper 23085, University Library of Munich, Germany, revised 05 May 2010.
    12. Mikhail Andreyev & Alyona Nelyubina, 2024. "Energy transition scenarios in Russia: effects in macroeconomic general equilibrium model with rational expectations," Bank of Russia Working Paper Series wps122, Bank of Russia.
    13. Vladimir D. Matveenk, 2011. "Interests of Social Groups, Direction of Technical Progress, and Barriers to Development: How Sustainable is the World Economic Growth?," DEGIT Conference Papers c016_047, DEGIT, Dynamics, Economic Growth, and International Trade.
    14. Willman, Alpo & Dieppe, Alistair & Baumann, Ursel & González Pandiella, Alberto, 2014. "Model of the United States economy with learning MUSEL," Working Paper Series 1745, European Central Bank.
    15. Tewodros G. Gebreselasie, 2008. "Sectoral Elasticity Of Substitution And Returns To Scale In South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 76(s2), pages 110-125, August.
    16. Soederhuizen, Beau & van Heuvelen, Gerrit Hugo & Luginbuhl, Rob & Stiphout-Kramer, Bert van, 2023. "Optimal capital ratios for banks in the euro area," Journal of Financial Stability, Elsevier, vol. 69(C).
    17. Robert Rowthorn, 2014. "A Note on Piketty's Capital in the Twenty-First Century," Working Papers wp462, Centre for Business Research, University of Cambridge.
    18. Alberto Bucci & Chiara Del Bo, 2012. "On the interaction between public and private capital in economic growth," Journal of Economics, Springer, vol. 106(2), pages 133-152, June.
    19. Sriram Shankar & B. Bhaskara Rao, 2013. "Estimates of the Long-Run Growth Rate of A ustralia," Economic Papers, The Economic Society of Australia, vol. 32(1), pages 95-98, March.
    20. Matteo Ghilardi & Raffaele Rossi, 2014. "Aggregate Stability and Balanced-Budget Rules," IMF Working Papers 2014/023, International Monetary Fund.
    21. Dufourt, Frédéric & Venditti, Alain & Vivès, Rémi, 2018. "On sunspot fluctuations in variable capacity utilization models," Journal of Mathematical Economics, Elsevier, vol. 76(C), pages 80-94.
    22. Abad, Nicolas & Seegmuller, Thomas & Venditti, Alain, 2017. "Nonseparable Preferences Do Not Rule Out Aggregate Instability Under Balanced-Budget Rules: A Note," Macroeconomic Dynamics, Cambridge University Press, vol. 21(1), pages 259-277, January.
    23. Ergül, Özgür & Göksel, Türkmen, 2020. "The effects of technological development on the labor share of national income," Economic Modelling, Elsevier, vol. 87(C), pages 158-171.
    24. Sánchez, Marcelo, 2009. "National prices and wage setting in a currency union," Working Paper Series 1058, European Central Bank.
    25. Dimitris Christopoulos & Peter McAdam, 2013. "Openness, Efficiency and Technology: An Industry Assessment," Scottish Journal of Political Economy, Scottish Economic Society, vol. 60(1), pages 56-70, February.
    26. Sánchez, Marcelo, 2010. "Wage restraint and monetary union," Economic Modelling, Elsevier, vol. 27(1), pages 134-142, January.
    27. Michael Knoblach & Fabian Stöckl, 2020. "What Determines The Elasticity Of Substitution Between Capital And Labor? A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 34(4), pages 847-875, September.
    28. Song, Eunbi, 2021. "What drives labor share change? Evidence from Korean industries," Economic Modelling, Elsevier, vol. 94(C), pages 370-385.
    29. Hegelund, Erik & Taalbi, Josef, 2023. "What determines unemployment in the long run? Band spectrum regression on ten countries 1913–2016," Structural Change and Economic Dynamics, Elsevier, vol. 64(C), pages 144-167.
    30. Ken Stewart, 2018. "Normalized CES Supply Systems: Replication of Klump, McAdam, and Willman (2007)," Department Discussion Papers 1807, Department of Economics, University of Victoria.
    31. Håvard Hungnes, 2011. "A demand system for input factors when there are technological changes in production," Empirical Economics, Springer, vol. 40(3), pages 581-600, May.
    32. Antony, Jürgen, 2014. "Technical change and the elasticity of factor substitution," Beiträge der Hochschule Pforzheim 147, Pforzheim University.
    33. Knoblach, Michael & Rößler, Martin & Zwerschke, Patrick, 2016. "The Elasticity of Factor Substitution Between Capital and Labor in the U.S. Economy: A Meta-Regression Analysis," CEPIE Working Papers 03/16, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    34. Alberto BUCCI & Chiara DEL BO, 2009. "On the interaction between public investment and private capital in economic growth," Departmental Working Papers 2009-44, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    35. Mallick, Debdulal, 2012. "The role of the elasticity of substitution in economic growth: A cross-country investigation," Labour Economics, Elsevier, vol. 19(5), pages 682-694.
    36. Ken Stewart & Jiang Li, 2018. "Are factor biases and substitution identifiable? The Canadian evidence," Department Discussion Papers 1808, Department of Economics, University of Victoria.
    37. Igor Fedotenkov, 2016. "Labour Shares, Fertility and Longevity in an OLG model," Bank of Lithuania Working Paper Series 28, Bank of Lithuania.

  15. McAdam, Peter & Willman, Alpo, 2004. "Production, supply and factor shares: an application to estimating German long-run supply," Economic Modelling, Elsevier, vol. 21(2), pages 191-215, March.

    Cited by:

    1. Rainer Klump & Peter McAdam & Alpo Willman, 2004. "Factor Substitution and Factor Augmenting Technical Progress in the US: A Normalized Supply-Side System Approach," DEGIT Conference Papers c009_030, DEGIT, Dynamics, Economic Growth, and International Trade.
    2. Whelan, Karl & Lawless, Martina, 2007. "Understanding the dynamics of labor shares and inflation," Working Paper Series 784, European Central Bank.
    3. Willman, Alpo, 2002. "Euro area production function and potential output: a supply side system approach," Working Paper Series 153, European Central Bank.
    4. Gerhard Fenz & Martin Spitzer, 2005. "AQM – The Austrian Quarterly Model of the Oesterreichische Nationalbank," Working Papers 104, Oesterreichische Nationalbank (Austrian Central Bank).
    5. Sergio De Nardis & Francesca Parente, 2022. "Technology and task changes in the major EU countries," Contemporary Economic Policy, Western Economic Association International, vol. 40(2), pages 391-413, April.
    6. Böhm, Sebastian, 2015. "Regional economic integration and factor mobility in unified Germany," FSES Working Papers 463, Faculty of Economics and Social Sciences, University of Freiburg/Fribourg Switzerland.

  16. Peter McAdam & Alpo Willman, 2004. "Supply, Factor Shares and Inflation Persistence: Re‐examining Euro‐area New‐Keynesian Phillips Curves," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(s1), pages 637-670, September.

    Cited by:

    1. Mankiw, N. Gregory & Reis, Ricardo, 2002. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," Scholarly Articles 3415324, Harvard University Department of Economics.
    2. Peter McAdam, 2007. "USA, Japan and the Euro Area: Comparing Business-Cycle Features," International Review of Applied Economics, Taylor & Francis Journals, vol. 21(1), pages 135-156.
    3. Nasir, Muhammad Ali & Huynh, Toan Luu Duc, 2024. "Nexus between inflation and inflation expectations at the zero lower bound: A tiger by the tail," Economic Modelling, Elsevier, vol. 131(C).
    4. Bazán-Palomino, Walter & Rodríguez, Gabriel, 2018. "The New Keynesian framework for a small open economy with structural breaks: Empirical evidence from Peru," Structural Change and Economic Dynamics, Elsevier, vol. 46(C), pages 13-25.
    5. Rainer Klump & Peter McAdam & Alpo Willman, 2004. "Factor Substitution and Factor Augmenting Technical Progress in the US: A Normalized Supply-Side System Approach," DEGIT Conference Papers c009_030, DEGIT, Dynamics, Economic Growth, and International Trade.
    6. Julien Matheron, 2006. "Firm-Specific Labor and Firm-Specific Capital: Implications for the Euro-Data New Phillips Curve," International Journal of Central Banking, International Journal of Central Banking, vol. 2(4), December.
    7. Peter McAdam & Jakub Muck & Jakub Growiec, 2015. "Endogenous Labor Share Cycles: Theory and Evidence," 2015 Meeting Papers 62, Society for Economic Dynamics.
    8. Boug, Pål & Cappelen, Adne & Swensen, Anders Rygh, 2010. "The new Keynesian Phillips curve revisited," Journal of Economic Dynamics and Control, Elsevier, vol. 34(5), pages 858-874, May.
    9. Arpaia, Alfonso & Pérez, Esther & Pichelmann, Karl, 2009. "Understanding labour income share dynamics in Europe," MPRA Paper 15649, University Library of Munich, Germany.
    10. Ricardo Mestre & Peter McAdam, 2011. "Is forecasting with large models informative? Assessing the role of judgement in macroeconomic forecasts," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 30(3), pages 303-324, April.
    11. Cavalleri, Maria Chiara & Eliet, Alice & McAdam, Peter & Petroulakis, Filippos & Soares, Ana & Vansteenkiste, Isabel, 2019. "Concentration, market power and dynamism in the euro area," Working Paper Series 2253, European Central Bank.
    12. ALISTAIR DIEPPE & KEITH KÜSTER & PETER McADAM, 2005. "Optimal Monetary Policy Rules for the Euro Area: An Analysis Using the Area Wide Model," Journal of Common Market Studies, Wiley Blackwell, vol. 43(3), pages 507-537, September.
    13. Ho, Sin-Yu & Njindan Iyke, Bernard, 2018. "Unemployment and Inflation: Evidence of a Nonlinear Phillips Curve in the Eurozone," MPRA Paper 87122, University Library of Munich, Germany.
    14. Klump, Rainer & McAdam, Peter & Willman, Alpo, 2008. "Unwrapping some euro area growth puzzles: Factor substitution, productivity and unemployment," Journal of Macroeconomics, Elsevier, vol. 30(2), pages 645-666, June.
    15. Juselius, Mikael, 2008. "Testing the New Keynesian Model on U.S. and Euro Area Data," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 2, pages 1-26.
    16. McAdam, Peter & Willman, Alpo, 2007. "State-dependency and firm-level optimization: a contribution to Calvo price staggering," Working Paper Series 806, European Central Bank.
    17. Nasir, Muhammad Ali & Balsalobre-Lorente, Daniel & Huynh, Toan Luu Duc, 2020. "Anchoring inflation expectations in the face of oil shocks & in the proximity of ZLB: A tale of two targeters," Energy Economics, Elsevier, vol. 86(C).
    18. Peter Mcadam & Alpo Willman, 2010. "Arrow–Calvo Price Staggering," Manchester School, University of Manchester, vol. 78(6), pages 556-581, December.
    19. Nasir, Muhammad Ali & Huynh, Toan Luu Duc & Yarovaya, Larisa, 2020. "Inflation targeting & implications of oil shocks for inflation expectations in oil-importing and exporting economies: Evidence from three Nordic Kingdoms," International Review of Financial Analysis, Elsevier, vol. 72(C).
    20. Ken Kuttner & Tim Robinson, 2008. "Understanding the Flattening Phillips Curve," RBA Research Discussion Papers rdp2008-05, Reserve Bank of Australia.
    21. Engelbert Stockhammer & Dimitris Sotiropoulos, 2012. "Rebalancing the Euro area: The costs of internal devaluation," Working Papers PKWP1206, Post Keynesian Economics Society (PKES).
    22. McAdam, Peter & McNelis, Paul, 2004. "Forecasting inflation with thick models and neural networks," Working Paper Series 352, European Central Bank.
    23. Christopher Tsoukis & George Kapetanios & Joseph Pearlman, 2011. "Elusive Persistence: Wage And Price Rigidities, The New Keynesian Phillips Curve And Inflation Dynamics," Journal of Economic Surveys, Wiley Blackwell, vol. 25(4), pages 737-768, September.
    24. Johanna Amberger & Ralf Fendel, 2017. "Understanding inflation dynamics in the Euro Area: deviants and commonalities across member countries," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 44(2), pages 261-293, May.
    25. Werner Roeger & Bernhard Herz, 2012. "Traditional versus New Keynesian Phillips Curves: Evidence from Output Effects," International Journal of Central Banking, International Journal of Central Banking, vol. 8(1), pages 87-109, June.

  17. Willman, Alpo & Kortelainen, Mika & Mannisto, Hanna-Leena & Tujula, Mika, 2000. "The BOF5 macroeconomic model of Finland, structure and dynamic microfoundations," Economic Modelling, Elsevier, vol. 17(2), pages 275-303, April.

    Cited by:

    1. Leal, Teresa & Pérez, Javier J. & Tujula, Mika & Vidal, Jean-Pierre, 2007. "Fiscal forecasting: lessons from the literature and challenges," Working Paper Series 843, European Central Bank.
    2. Alistair DIEPPE & Alberto GONZÁLEZ PANDIELLA & Stephen HALL & Alpo WILLMAN, 2010. "MEMBER: Multi-Country Euro Area Model with Boundedly Estimated Rationality," EcoMod2010 259600046, EcoMod.
    3. de Mendonça, Helder Ferreira & Baca, Adriana Cabrera, 2022. "Fiscal opacity and reduction of income inequality through taxation: Effects on economic growth," The Quarterly Review of Economics and Finance, Elsevier, vol. 83(C), pages 69-82.
    4. Bardsen, Gunnar & Eitrheim, Oyvind & Jansen, Eilev S. & Nymoen, Ragnar, 2005. "The Econometrics of Macroeconomic Modelling," OUP Catalogue, Oxford University Press, number 9780199246502.
    5. Valadkhani, Abbas, 2004. "History of macroeconometric modelling: lessons from past experience," Journal of Policy Modeling, Elsevier, vol. 26(2), pages 265-281, February.
    6. Vasconcelos de Deus, Joseph David Barroso & de Mendonça, Helder Ferreira, 2017. "Fiscal forecasting performance in an emerging economy: An empirical assessment of Brazil," Economic Systems, Elsevier, vol. 41(3), pages 408-419.
    7. Valadkhani, Abbas, 2005. "Macroeconometric Modelling: Approaches and Experiences in Developing Countries," Economics Working Papers wp05-10, School of Economics, University of Wollongong, NSW, Australia.
    8. Valadkhani, A., 2005. "Macroeconomic Modelling: Approaches and Experiences in Development Countries," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 5(1).
    9. Kilponen, Juha & Orjasniemi, Seppo & Ripatti, Antti & Verona, Fabio, 2016. "The Aino 2.0 model," Bank of Finland Research Discussion Papers 16/2016, Bank of Finland.
    10. Hlédik, Tibor, 2003. "A calibrated structural model of the Czech economy," Bank of Finland Research Discussion Papers 35/2003, Bank of Finland.
    11. Männistö, Hanna-Leena, 2005. "Forecasting with a forward-looking DGE model: combining long-run views of financial markes with macro forecasting," Bank of Finland Research Discussion Papers 21/2005, Bank of Finland.

  18. Alpo Willman, 1989. "If the markka floated : simulating the BOF4 model with fixed and floating exchange rates," Finnish Economic Papers, Finnish Economic Association, vol. 2(1), pages 3-19, Spring.
    See citations under working paper version above.
  19. Willman, Alpo, 1988. "The collapse of the fixed exchange rate regime with sticky wages and imperfect substitutability between domestic and foreign bonds," European Economic Review, Elsevier, vol. 32(9), pages 1817-1838, November.

    Cited by:

    1. Agenor, Pierre-Richard & Asilis, Carlos M., 1997. "Price controls and electoral cycles," European Journal of Political Economy, Elsevier, vol. 13(1), pages 131-142, February.
    2. Sylvester C. W. Eijffinger & Benedikt Goderis, 2007. "Currency Crises, Monetary Policy and Corporate Balance Sheets," German Economic Review, Verein für Socialpolitik, vol. 8(3), pages 309-343, August.
    3. Kalyvitis, Sarantis C., 1997. "Evaluating the real effects of devaluation expectations in Greece under alternative policies," Economic Modelling, Elsevier, vol. 14(2), pages 215-236, April.
    4. Stephen J. Turnovsky & Jian Xu, 2002. "Speculative Attacks and the Dynamics of Exchange Rates," Annals of Economics and Finance, Society for AEF, vol. 3(2), pages 219-248, November.
    5. Gerlach, Stefan & Smets, Frank, 1995. "Contagious speculative attacks," European Journal of Political Economy, Elsevier, vol. 11(1), pages 45-63, March.
    6. Corrado, Luisa & Holly, Sean, 2000. "A currency crisis model with a misaligned central parity: a stochastic analysis," Economics Letters, Elsevier, vol. 67(1), pages 61-68, April.
    7. Barry Eichengreen & Olivier Jeanne, 2000. "Currency Crisis and Unemployment: Sterling in 1931," NBER Chapters, in: Currency Crises, pages 7-43, National Bureau of Economic Research, Inc.
    8. Barry Eichengreen & Andrew K. Rose & Charles Wyplosz, 1996. "Contagious Currency Crises," NBER Working Papers 5681, National Bureau of Economic Research, Inc.
    9. Haidar, Jamal Ibrahim, 2012. "Currency crisis transmission through international trade," Economic Modelling, Elsevier, vol. 29(2), pages 151-157.
    10. Eijffinger, S.C.W. & Goderis, B.V.G., 2007. "Currency crises, monetary policy and corporate balance sheet vulnerabilities," Other publications TiSEM efb2b284-5150-4ad4-aa63-c, Tilburg University, School of Economics and Management.
    11. Daniel Stefan ARMEANU & Adrian ENCIU & Sorin-Iulian CIOACA, 2017. "How Important is the Contagion Effect for the Romanian Capital Market?," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 265-282, June.
    12. Martinez Peria, Maria Soledad, 1997. "Understanding Devaluations in Latin America: A 'Bad Fundamentals' Approach," Center for International and Development Economics Research, Working Paper Series qt1h89j1pp, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
    13. Eichengreen, Barry & Rose, Andrew K. & Wyplosz, Charles, 1995. "Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference to the European Monetary System," Center for International and Development Economics Research (CIDER) Working Papers 233397, University of California-Berkeley, Department of Economics.
    14. Barry Eichengreen & Andrew K. Rose, 1999. "Contagious Currency Crises: Channels of Conveyance," NBER Chapters, in: Changes in Exchange Rates in Rapidly Developing Countries: Theory, Practice, and Policy Issues, pages 29-56, National Bureau of Economic Research, Inc.
    15. Khalid, Ahmed M. & Kawai, Masahiro, 2003. "Was financial market contagion the source of economic crisis in Asia?: Evidence using a multivariate VAR model," Journal of Asian Economics, Elsevier, vol. 14(1), pages 131-156, February.
    16. Jeanne, Olivier, 1999. "Currency Crises: A Perspective on Recent Theoretical Developments," CEPR Discussion Papers 2170, Centre for Economic Policy Research.
    17. Flood, Robert P. & Garber, Peter M. & Kramer, Charles, 1996. "Collapsing exchange rate regimes: Another linear example," Journal of International Economics, Elsevier, vol. 41(3-4), pages 223-234, November.
    18. de Bandt, Olivier & Hartmann, Philipp, 2000. "Systemic Risk: A Survey," CEPR Discussion Papers 2634, Centre for Economic Policy Research.
    19. Mizen, Paul, 1999. "Can foreign currency deposits prop up a collapsing exchange-rate regime?," Journal of Development Economics, Elsevier, vol. 58(2), pages 553-562, April.
    20. Axel A. Weber, 1998. "Sources of Currency Crises: An Empirical Analysis," Working Papers 25, Oesterreichische Nationalbank (Austrian Central Bank).
    21. Agenor, Pierre-Richard, 1998. "Wage Contracts, Capital Mobility, and Macroeconomic Policy," Journal of Macroeconomics, Elsevier, vol. 20(1), pages 1-26, January.
    22. Emiliano Brancaccio & Nadia Garbellini, 2015. "Currency regime crises, real wages, functional income distribution and production," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 12(3), pages 255-276, December.
    23. Piersanti, Giovanni, 2012. "The Macroeconomic Theory of Exchange Rate Crises," OUP Catalogue, Oxford University Press, number 9780199653126.
    24. Eichengreen, Barry, 2001. "The EMS Crisis in Retrospect," CEPR Discussion Papers 2704, Centre for Economic Policy Research.
    25. Komulainen, Tuomas, 1999. "Currency crisis theories: Some explanations for the Russian case," BOFIT Discussion Papers 1/1999, Bank of Finland Institute for Emerging Economies (BOFIT).
    26. Alpo Willman, 1991. "Why there is a lower bound on the central bank's foreign reserves," Finnish Economic Papers, Finnish Economic Association, vol. 4(2), pages 113-129, Autumn.
    27. Giancarlo Marini & Giovanni Piersanti, 2012. "Models of Speculative Attacks and Crashes in International Capital Markets," CEIS Research Paper 245, Tor Vergata University, CEIS, revised 24 Jul 2012.
    28. Tapio Palokangas, 1992. "Discrete exchange rate changes with real wage resistance," Finnish Economic Papers, Finnish Economic Association, vol. 5(1), pages 38-46, Spring.
    29. Olivier Jeanne, 1996. "Les modèles de crise de change : un essai de synthèse en relation avec la crise du franc de 1992-1993," Économie et Prévision, Programme National Persée, vol. 123(2), pages 147-162.

  20. Willman, Alpo, 1988. "Balance-of-payments crises and monetary policy reactions in a model with imperfect substitutability between domestic and foreign bonds," Economics Letters, Elsevier, vol. 26(1), pages 77-81.

    Cited by:

  21. Willman, Alpo, 1987. "Speculative attacks on the currency with uncertain monetary policy reactions," Economics Letters, Elsevier, vol. 25(1), pages 75-78.

    Cited by:

    1. Driffill, John & Sola, Martin, 2006. "Target zones for exchange rates and policy changes," Journal of International Money and Finance, Elsevier, vol. 25(6), pages 912-931, October.
    2. Pierre-Richard Agenor & Jagdeep S. Bhandari & Robert P. Flood, 1991. "Speculative Attacks and Models of Balance-of-Payments Crises," NBER Working Papers 3919, National Bureau of Economic Research, Inc.
    3. Robert Flood & Nancy Marion, 1998. "Perspectives on the Recent Currency Crisis Literature," NBER Working Papers 6380, National Bureau of Economic Research, Inc.
    4. Alpo Willman, 1991. "Why there is a lower bound on the central bank's foreign reserves," Finnish Economic Papers, Finnish Economic Association, vol. 4(2), pages 113-129, Autumn.

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