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Macro-economic Policy

Productivity convergence and foreign ownership at the establishment level

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Productivity convergence and foreign ownership at the establishment level " This paper investigates whether there is convergence in Total Factor Productivity towards the technological frontier at establishment level. The authors find that convergence tot he frontier is statistically and quantitatively important, suggesting the existence of technological spill-overs. Foreign multi-nationals make up a significant proportion of establishments at the technological frontier, and therefore make a contribution to productivity growth through technology transfer. There is also evidence that foreign presence in an industry increases the speed of convergence to the technological frontier. "Productivity convergence and foreign ownership at the establishment level" by Rachel Griffith, Stephen Redding and Helen Simpson is published by the Institute for Fiscal Studies.

 

By Institute for Fiscal Studies , UK.

Macro Economic Policy Resource.


Assets and Debts of UK Households

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Assets and Debts of UK Households " James Banks, Zoë Smith and Matt Wakefield set out the distribution of both wealth and debts held by UK households - allowing a comprehensive picture of net wealth to be drawn for the first time. One of the key findings is that half the population have net financial wealth of GBP600 or less. As the research draws upon panel data it is also possible to see how people's assets and debts change over time. For example, over half of those with zero financial wealth in 1995 had accumulated some wealth by 2000. "The Distribution of Financial Wealth in the UK: Evidence from 2000 BHPS Data" is published by the Institute for Fiscal Studies.

 

By Institute for Fiscal Studies , UK.

Macro Economic Policy Resource.


Measuring Fiscal Stance

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Measuring Fiscal Stance " In this note, Tom Clark and Andrew Dilnot examine how we might measure the fiscal stance in terms of the scale of the public deficit. They show the path the gap between state income and expenditure has taken since 1946. The paper also tries to isolate the effects of government policy as opposed to the economic cycle. "Measuring UK fiscal stance since the Second World War" is published by the Institute for Fiscal Studies.

 

By Institute for Fiscal Studies , UK.

Macro Economic Policy Resource.