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  • 1
    Online Resource
    Online Resource
    The slowdown in Finnish productivity growth : Causes and consequences (2023)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (48 p.) , 21 x 28cm.
    Series Statement: OECD Science, Technology and Industry Policy Papers no.139
    Keywords: Science and Technology ; Economics ; Industry and Services ; Finland
    Abstract: This report analyses the trends in Finnish productivity growth over the 2000s and 2010s. It describes its key features, makes comparisons to a benchmark of 16 OECD countries, and studies the causes of its sudden and prolonged slowdown which began at the end of the 2000s. The analysis focuses on the role of two contemporaneous demand shocks that hit the Finnish economy: the Nokia crisis and the Great Trade Collapse of 2009. Matching detailed firm-based information on structural characteristics of productivity growth with global input-output tables and National Accounts data, the report highlights how the prolonged drop in demand from the domestic computer and electronics sector may have induced a persistent drag on Finnish productivity growth. The report concludes with policy implications to strengthen Finnish resilience to idiosyncratic shocks to key sectors or large firms, while supporting long-term productivity growth and competitiveness.
    DOI: 10.1787/c1fad5b3-en
    URL: lizenzpflichtig
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  • 2
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    Liquidity shortfalls during the COVID-19 outbreak : assessment and policy responses (2020)
    Paris, France : OECD
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 24 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1647
    Keywords: COVID-19 ; liquidity ; cash ; job retention ; Economics ; Amtsdruckschrift ; Graue Literatur
    Abstract: The paper investigates the financial vulnerability of non-financial firms during the Coronavirus (COVID-19) epidemic crisis. In particular, it evaluates the extent to which firms may run into a liquidity crisis following the COVID-19 outbreak and the impact of stylised policy measures to reduce the risks and depth of such crisis. The analysis relies on three ingredients: a simple accounting model, a large dataset reporting firms’ balance sheets for 14 countries and granular data on the magnitude of the shock measuring the impact of confinement measures on economic activity (notably depending on the capacity of each sector to operate by teleworking). Results suggest that, without any policy intervention, up to 38% of firms would face liquidity shortfalls after 10 months since the implementation of confinement measures. Comparing the impact of different policies (tax deferral, debt moratorium and support to wage payments), the analysis shows that government support to relieve wage bills is the most effective tool to reduce liquidity shortages, followed by debt moratorium policies. Finally, the paper zooms into labour market policies and compares the costefficiency of short-term work and wage subsidies schemes, highlighting how their relative efficiency depends on their design.
    DOI: 10.1787/581dba7f-en
    URL: lizenzpflichtig
    URL: lizenzpflichtig
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  • 3
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    Insolvency and debt overhang following the COVID-19 outbreak : assessment of risks and policy responses (2020)
    Paris, France : OECD
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 38 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1651
    Keywords: Coronavirus ; Schock ; Verbindlichkeiten ; Kapitalstruktur ; Investitionsentscheidung ; Europa ; COVID-19 ; insolvency ; debt ; equity ; investment ; Economics ; Amtsdruckschrift ; Graue Literatur
    Abstract: This paper investigates the likelihood of corporate insolvency and the potential implications of debt overhang of non-financial corporations induced by economic shock associated with the outbreak of COVID-19. Based on simple accounting models, it evaluates the extent to which firms deplete their equity buffers and increase their leverage ratios in the course of the COVID-19 crisis. Next, relying on regression analysis and looking at the historical relationship between firms’ leverage and investment, it examines the potential impact of higher debt levels on investment during the recovery. Against this background, the discussion outlines a number of policy options to flatten the curve of crisis-related insolvencies, which could potentially affect otherwise viable firms, and to lessen the risk of debt-overhang, which could slow down the speed of recovery.
    DOI: 10.1787/747a8226-en
    URL: lizenzpflichtig
    URL: lizenzpflichtig
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  • 4
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    Laggard firms, technology diffusion and its structural and policy determinants (2020)
    [Paris] : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 91 Seiten) , Illustrationen
    Series Statement: OECD science, technology and innovation policy papers no. 86 (March 2020)
    Series Statement: OECD Science, Technology and Industry Policy Papers no.86
    Keywords: Productivity ; Laggards ; Catch-up ; Science and Technology ; Amtsdruckschrift ; Graue Literatur
    Abstract: This paper provides new evidence on the main characteristics of laggard firms - firms in the bottom 40% of the productivity distribution - and their potential for productivity growth. It finds that laggards are on average younger and smaller than more productive firms, and matter for aggregate resource reallocation. Moreover, younger laggards converge faster toward the productivity frontier, suggesting that the composition of the laggard group matters for future productivity. Yet this report finds that laggards converge at a slower rate in highly digital- and skill-intensive industries, suggesting that there are barriers to technology and knowledge diffusion. This could help explain the much-debated productivity slowdown and the increased productivity dispersion. This report also finds that policies aimed at improving workers’ skills, alleviating financial constraints to investments and increasing firms' absorptive capacity through direct R&D support can accelerate the diffusion of knowledge and technology, and help laggard firms to catch up.
    DOI: 10.1787/281bd7a9-en
    URL: lizenzpflichtig
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  • 5
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    Coverage and representativeness of Orbis data (2020)
    Paris, France : OECD
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 63 Seiten) , Illustrationen
    Series Statement: OECD science, technology and industry working papers 2020, 06
    Series Statement: OECD science, technology and industry working papers
    Keywords: Science and Technology ; Economics ; Amtsdruckschrift ; Graue Literatur
    Abstract: This paper describes the coverage and representativeness of Orbis, a commercial database of firm-level records across many countries. Such databases can provide key insights into global economic trends and shed light on how policies affect firms within and across countries. As a benchmark, the paper uses industry-level data from the OECD STAN dataset as well as micro-aggregated data from the OECD MultiProd and DynEmp projects, which draw on official microdata representative of the entire firm population. Results indicate that Orbis is more suitable for studies that: i) take a global perspective rather than make comparisons across countries; ii) analyse top performers and multinationals rather than underperforming firms; and iii) focus on mean performance or changes within firms rather than the entire firm distribution or entry and exit.
    DOI: 10.1787/c7bdaa03-en
    URL: lizenzpflichtig
    URL: lizenzpflichtig
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  • 6
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    Online Resource
    Employment dynamics across firms during COVID-19 : The role of job retention schemes (2023)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (67 p.) , 21 x 28cm.
    Series Statement: OECD Economics Department Working Papers no.1788
    Keywords: Economics
    Abstract: This paper analyses employment dynamics across firms during the COVID-19 pandemic and the role of job retention schemes (JRS) in shaping these dynamics. It relies on a novel collection of high-frequency harmonised micro-aggregated statistics, computed using administrative data on employment and wages from electronic payroll records across 12 countries linked to monthly information on policy support during COVID-19, as well as on a new indicator of JRS de-jure generosity. The analysis highlights four key findings: i) the employment adjustment margins varied over time, adjusting mainly through the intensive margin in 2020, while both the intensive and the extensive margins contributed to employment changes in 2021; ii) the reallocation process remained productivity enhancing, although to a lower extent on average compared to 2019; iii) JRS were successful in their purpose of cushioning the effect of the crisis on employment growth and firm survival; iv) JRS support did not distort the productivity-enhancing nature of reallocation.
    DOI: 10.1787/33388537-en
    URL: lizenzpflichtig
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  • 7
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    Bits and bolts : the digital transformation and manufacturing (2019)
    Paris, France : OECD
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 43 Seiten) , Illustrationen
    Series Statement: OECD science, technology and industry working papers 2019, 01
    Series Statement: OECD science, technology and industry working papers
    Keywords: Industrie ; Digitalisierung ; Industrie 4.0 ; Science and Technology ; Industry and Services ; Amtsdruckschrift ; Graue Literatur
    Abstract: The digital transformation forces a re-think of government policy as manufacturing business models increasingly transition from “bolts” to “bits”. The road to Industry 4.0 implies important and pervasive changes in business dynamics, firm growth and the nature of competition. This report presents a framework for measuring the digital transformation of manufacturing industries, and maps the impact of digital technologies across these several dimensions: firm productivity growth, business dynamism, industry concentration, firm mark-ups and mergers and acquisition activity. It suggests policies that governments can use to facilitate digital adoption and reap the benefits of the digital revolution in manufacturing.
    DOI: 10.1787/c917d518-en
    URL: Volltext  (lizenzpflichtig)
    URL: Volltext  (lizenzpflichtig)
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  • 8
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    Can firm micro data match macro trends? : comparing MultiProd and STAN (2019)
    Paris, France : OECD
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 20 Seiten) , Illustrationen
    Series Statement: OECD science, technology and industry working papers 2019, 02
    Series Statement: OECD science, technology and industry working papers
    Keywords: Science and Technology ; Industry and Services ; Amtsdruckschrift ; Graue Literatur
    Abstract: Better understanding about the drivers of aggregate productivity and wage inequality requires data that offer a representative picture of the underlying firm-level heterogeneity but are, at the same time, able to reproduce patterns observed in aggregate data. The OECD MultiProd project aims to generate such data by collaborating with a network of national experts who apply a harmonised statistical code to representative business microdata across a large number of countries. This paper compares the project’s output to the OECD STAN database to test to what extent MultiProd data can be taken as reflecting the aggregate economies in question, and if they are able to reproduce patterns observed in aggregate data across years, industries and countries. The results suggest that (1) MultiProd captures a major part of gross output, value added and employment in most of the countries covered; and (2) MultiProd reproduces aggregate patterns relatively well, with median correlations over time, across industries and across countries between 0.75.
    DOI: 10.1787/2b0ac915-en
    URL: lizenzpflichtig
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  • 9
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    Mark-ups in the digital era (2018)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 26 Seiten) , Illustrationen
    Series Statement: OECD science, technology and industry working papers 2018, 10
    Series Statement: OECD science, technology and industry working papers
    Keywords: Mark-up Pricing ; Marktmacht ; Digitalisierung ; Technischer Fortschritt ; OECD-Staaten ; Science and Technology ; Industry and Services ; Amtsdruckschrift ; Graue Literatur
    Abstract: This paper examines the evolution of firm mark-ups across 26 countries for the period 2001-14. It also discusses and investigates empirically how this can be related to the degree of digital transformation in sectors. Four main facts emerge: i) mark-ups are increasing over the period, on average across country; ii) this result is driven by firms at the top of the mark-up distribution, while the bottom half of the distribution exhibits a flat trend over time; (iii) mark-ups are higher in digital-intensive sectors than in less-digitally intensive sectors; (iv) mark-up differentials between digitally-intensive and less-digitally-intensive sectors have increased significantly over time.
    DOI: 10.1787/4efe2d25-en
    URL: Volltext  (lizenzpflichtig)
    URL: Volltext  (lizenzpflichtig)
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  • 10
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    The productivity-wage premium : does size still matter in a service economy? (2018)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 34 Seiten) , Illustrationen
    Series Statement: OECD science, technology and industry working papers 2018, 13
    Series Statement: OECD science, technology and industry working papers
    Keywords: 1994 - 2012 ; Dienstleistungsgesellschaft ; Produktivitätsentwicklung ; Lohn ; OECD-Staaten ; Science and Technology ; Industry and Services ; Amtsdruckschrift ; Graue Literatur
    Abstract: The literature has established two robust stylised facts: (i) the existence of a firm size-wage premium; and (ii) a positive relationship between firm size and productivity. However, the existing evidence is mainly based on manufacturing data only. With manufacturing nowadays accounting for a small share of the economy, whether productivity, size, and wages are closely linked, and how tight this link is across sectors, is still an open question. Using a unique micro-aggregated dataset covering the whole economy in 17 countries over 1994-2012, this paper compares these relationships across sectors. While the size-wage and size-productivity premia are significantly weaker in market services compared to manufacturing, the link between wages and productivity is stronger. The combination of these results suggests that, in a service economy the “size-wage premium” becomes more a “productivity-wage premium”. These results have first-order policy implications for both workers and firms.
    DOI: 10.1787/04e36c29-en
    URL: Volltext  (lizenzpflichtig)
    URL: Volltext  (lizenzpflichtig)
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