Productivity and the Business Cycle: Evidence for Europe and the US

  

6TH WORKSHOP EURO AREA BUSINESS CYCLE NETWORK (EABCN)
Helsinki, 28-29 November 2005, hosted by the Bank of Finland,
Organizers:
Juan J. Dolado (Universidad Carlos III de Madrid and CEPR), Gerard Korteweg (European Central Bank) and Jouko Vilmunen (Bank of Finland)
List of Participants
Monday 28 November
09.00-09.30 Opening Remarks
Sinikka Salo (Bank of Finland)
Session 1 - Chair: David Mayes (Bank of Finland)
09.30-10.15

Cyclical Productivity in Europe and the United States: Evaluating the Evidence on Returns to Scale and Input Utilization
*Robert Inklaar (University of Groningen) (see presentation)

Discussant: Silvia Sgherri (European Central Bank) (see comments)
10.15-11.00

Growth in Euro Area Labour Quality
Guido Schwerdt (European University Institute) (see presentation)
*Jarkko Turunen (European Central Bank)

Discussant: Lauri Kajanoja (Bank of Finland) (see comments)
11.30-12.30

Invited Talk: Technology and Business Cycles
Susanto Basu (Boston College and NBER) (see presentation)

Chair: Jouko Vilmunen (Bank of Finland)
Session 2 - Chair: Franck Portier (Université des Sciences Sociales de
Toulouse)
14.00-14.45

Drift and Breaks in Labour Productivity
*Luca Benati (Bank of England) (see presentation)

Discussant: Attila Ratfai (Central European University) (see comments)
14.45-15.30

Pricing Behaviour and the Response of Hours to Productivity Shocks
*Domenico J. Marchetti (Bank of Italy) (see presentation)
Francesco Nucci (University of Rome)

Discussant: Martial Dupaigne (GREMAQ, Université Toulouse I) (see comments)
Session 3 - Chair: Domenico Giannone (ECARES, Université Libre de
Bruxelles)
16.00-16.45

The “News” View of Economic Fluctuations: Evidence from Aggregate Japanese and Sectoral US Data
Paul Beaudry (University of British Columbia and NBER)
*Franck Portier (Université des Sciences Sociales de Toulouse) (see presentation)

Discussant: Max Gillman (Cardiff University) (see comments)
16.45-17.30 Technology Shocks and Job Flows
J David López-Salido (Bank of Spain and CEPR) (see presentation)
*Claudio Michelacci (CEMFI and CEPR)

Discussant: Sumru Altug (Koç University and CEPR) (see comments)
17.30-18.30 Invited Talk: Product And Labour Market Regulations and Patenting Activity
Rachel Griffith (Institute of Fiscal Studies, UCL and CEPR) (see presentation)

Chair: Gerard Korteweg (European Central Bank)
Tuesday 29 November
Session 4 - Chair: Jarkko Turunen (European Central Bank)
09.00-09.45 Stochastic Capital Depreciation and the Comovement of Hours-Productivity
Robert D. Dittmar (Federal Reserve Bank of St Louis) (see presentation)
Michael J. Dueker (Federal Reserve Bank of St Louis)
*Andreas M. Fischer (Bank of Switzerland and CEPR)

Discussant: Susanto Basu (Boston College and NBER) (see comments)
09.45-10.30 Interdependencies of U.S. Manufacturing Sectoral TFP´s: A Spatial VAR Approach
*Klaus Neusser (Universität Bern) (see presentation)

Discussant: Hanna-Lenna Männistö (Bank of Finland) (see comments)
Session 5 - Chair: Juan J. Dolado (Universidad Carlos III de Madrid and
CEPR)
11.00-11.45 Bilateral FDI Flows: Threshold Barriers and Productivity Shocks
*Assaf Razin (Tel Aviv University and CEPR) (see presentation)
Efraim Sadka (Tel Aviv University)
Hui Tong (Bank of England)

Discussant: Mariam Camarero (Jaume I University) (see comments)
11.45-12.30 Analysing Productivity Cycles in the Euro Area, US and UK Using Wavelet Analysis
*Patrick Crowley (Texas A&M University) (see presentation)
Douglas Maraun, University of Potsdam
David Mayes (Bank of Finland)

Discussant: Gonzalo Camba-Mendez (European Central Bank) (see comments)
14.00-15.00 Invited talk: Trend Breaks, Long-Run Restrictions and the Contractionary Effects of Technology Improvements
John Fernald (Federal Reserve Bank of San Francisco) (see presentation)

Chair: Assaf Razin (Tel Aviv University and CEPR)