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  1. The impact of the COVID-19 pandemic and policy support on productivity
    a report of the ESCB Expert Group on productivity, innovation and technological change
    Autor*in: Anastasatu, Marianthē; Anyfantaki, Sofia; Benkovskis, Konstantins; Bergeaud, Antonin; Bun, Maurice; Bunel, Simon; Colciago, Andrea; De Mulder, Jan; Fantino, Davide; González López-Valcárcel, Beatriz; Havel, Jiri; Jarvis, Valerie; Khametshin, Dmitry; Kolaiti, Tetie; Krasnopjorovs, Olegs; Lebastard, Laura; López-García, Paloma; Martins, Fernando; Meinen, Philipp; Meriküll, Jaanika; Parker, Miles; Raos, Josip; Serafini, Roberta; Šelebaj, Domagoj; Szörfi, Béla; Vaňko, Milan; Vanhala, Juuso; Volk, Matjaz
    Erschienen: [2024]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    This paper studies the short-term and long-term consequences of the COVID-19 pandemic for productivity in Europe. Aggregate and sectoral evidence is complemented by firm-level data-based findings obtained from a large microdistributed exercise.... mehr

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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
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    uneingeschränkte Fernleihe, Kopie und Ausleihe

     

    This paper studies the short-term and long-term consequences of the COVID-19 pandemic for productivity in Europe. Aggregate and sectoral evidence is complemented by firm-level data-based findings obtained from a large microdistributed exercise. Productivity trends during the COVID-19 pandemic differed from past trends. Labour productivity per hour worked temporarily increased, while productivity per employee declined across sectors given the widespread use of job retention schemes. The extensive margin of productivity growth was muted to some degree by the policy support granted to firms. Firm entries declined while firm exits increased much less than during previous crises. The pandemic had a significant impact on the intensive margin of productivity growth and led to a temporary drop in within-firm productivity per employee and increased reallocation. Job reallocation was productivity-enhancing but subdued compared to the Great Recession. As confirmed by a granular data analysis of the distribution of employment subsidies and loan guarantees and moratoria, job reallocation and also debt distribution and "zombie firm" prevalence were not significantly affected by the COVID-19 policy support. The pandemic and related lockdowns accelerated changes in consumer preferences and working habits with potential long-term effects. Generous government support muted the surge in unemployment and reduced permanent scarring effects.

     
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    Quelle: Staatsbibliothek zu Berlin
    Beteiligt: Lalinsky, Tibor (HerausgeberIn)
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789289964098
    Weitere Identifier:
    Schriftenreihe: Occasional paper series / European Central Bank ; No 341
    Schlagworte: labour productivity; productivity-enhancing reallocation; COVID-19,adjustment of firms; government support; cross-country analysis; micro-distributedexercise; Europe
    Umfang: 1 Online-Ressource (circa 105 Seiten), Illustrationen
  2. The impact of the COVID-19 pandemic and policy support on productivity
    a report of the ESCB Expert Group on productivity, innovation and technological change
    Autor*in: Anastasatu, Marianthē; Anyfantaki, Sofia; Benkovskis, Konstantins; Bergeaud, Antonin; Bun, Maurice; Bunel, Simon; Colciago, Andrea; De Mulder, Jan; Fantino, Davide; González López-Valcárcel, Beatriz; Havel, Jiri; Jarvis, Valerie; Khametshin, Dmitry; Kolaiti, Tetie; Krasnopjorovs, Olegs; Lebastard, Laura; López-García, Paloma; Martins, Fernando; Meinen, Philipp; Meriküll, Jaanika; Parker, Miles; Raos, Josip; Serafini, Roberta; Šelebaj, Domagoj; Szörfi, Béla; Vaňko, Milan; Vanhala, Juuso; Volk, Matjaz
    Erschienen: [2024]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    This paper studies the short-term and long-term consequences of the COVID-19 pandemic for productivity in Europe. Aggregate and sectoral evidence is complemented by firm-level data-based findings obtained from a large microdistributed exercise.... mehr

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    Verlag (kostenfrei)
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    Standort:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
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    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 535
    Fernleihe:
    keine Fernleihe

     

    This paper studies the short-term and long-term consequences of the COVID-19 pandemic for productivity in Europe. Aggregate and sectoral evidence is complemented by firm-level data-based findings obtained from a large microdistributed exercise. Productivity trends during the COVID-19 pandemic differed from past trends. Labour productivity per hour worked temporarily increased, while productivity per employee declined across sectors given the widespread use of job retention schemes. The extensive margin of productivity growth was muted to some degree by the policy support granted to firms. Firm entries declined while firm exits increased much less than during previous crises. The pandemic had a significant impact on the intensive margin of productivity growth and led to a temporary drop in within-firm productivity per employee and increased reallocation. Job reallocation was productivity-enhancing but subdued compared to the Great Recession. As confirmed by a granular data analysis of the distribution of employment subsidies and loan guarantees and moratoria, job reallocation and also debt distribution and "zombie firm" prevalence were not significantly affected by the COVID-19 policy support. The pandemic and related lockdowns accelerated changes in consumer preferences and working habits with potential long-term effects. Generous government support muted the surge in unemployment and reduced permanent scarring effects.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Staatsbibliothek zu Berlin
    Beteiligt: Lalinsky, Tibor (HerausgeberIn)
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789289964098
    Weitere Identifier:
    Schriftenreihe: Occasional paper series / European Central Bank ; No 341
    Schlagworte: labour productivity; productivity-enhancing reallocation; COVID-19,adjustment of firms; government support; cross-country analysis; micro-distributedexercise; Europe
    Umfang: 1 Online-Ressource (circa 105 Seiten), Illustrationen
  3. Micro-based evidence of EU competitiveness
    the CompNet database
    Autor*in: López-García, Paloma; Di Mauro, Filippo; Benatti, Nicola; Angeloni, Chiara; Altomonte, Carlo; Bugamelli, Matteo; D'Aurizio, Leandro; Barba Navaretti, Giorgio; Forlani, Emanuele; Rossetti, Stefania; Zurlo, Davide; Berthou, Antoine; Sandoz-Dit-Bragard, Charlotte; Opromolla, Luca David; Soares, Ana Cristina; Chiriacescu, Bogdan; Cazacu, Ana-Maria; Lalinsky, Tibor; Dhyne, Emmanuel; Biewen, Elena; Blank, Sven; Meinen, Philipp; Hagemejer, Jan; Tello, Patry; Rodríguez-Caloca, Antonio; Čede, Urška; Galuščák, Kamil; Merikyll, Jaanika; Harasztosi, Péter
    Erschienen: March 2014
    Verlag:  National Bank of Belgium, Brussels

    Drawing from confidential firm-level balance sheets in 11 European countries, the paper presents a novel sectoral database of comparable productivity indicators built by members of the Competitiveness Research Network (CompNet) using a newly... mehr

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 546 (253)
    Fernleihe:
    keine Fernleihe

     

    Drawing from confidential firm-level balance sheets in 11 European countries, the paper presents a novel sectoral database of comparable productivity indicators built by members of the Competitiveness Research Network (CompNet) using a newly developed research infrastructure. Beyond aggregate information available from industry statistics of Eurostat or EU KLEMS, the paper provides information on the distribution of firms across several dimensions related to competitiveness, e.g. productivity and size. The database comprises so far 11 countries, with information for 58 sectors over the period 1995-2011. The paper documents the development of the new research infrastructure, the construction of the database, and shows some preliminary results. Among them, it shows that there is large heterogeneity in terms of firm productivity or size within narrowly defined industries in all countries. Productivity, and above all, size distribution are very skewed across countries, with a thick left-tail of low productive firms. Moreover, firms at both ends of the distribution show very different dynamics in terms of productivity and unit labour costs. Within-sector heterogeneity and productivity dispersion are positively correlated to aggregate productivity given the possibility of reallocating resources from less to more productive firms. To this extent, we show how allocative efficiency varies across countries, and more interestingly, over different periods of time. Finally, we apply the new database to illustrate the importance of productivity dispersion to explain aggregate trade results.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/144465
    Körperschaften/Kongresse:
    CompNet Task Force (VerfasserIn)
    Schriftenreihe: Working paper research / National Bank of Belgium ; no 253 (March 2014)
    Schlagworte: Internationaler Wettbewerb; Produktivität; Betriebsgröße; Datenbank; Europa
    Umfang: 1 Online-Ressource (circa 75 Seiten), Illustrationen
  4. Assessing European firms' exports and productivity distributions
    the CompNet trade module
    Autor*in: Berthou, Antoine; Dhyne, Emmanuel; Bugamelli, Matteo; Cazacu, Ana-Maria; Demian, Calin-Vlad; Harasztosi, Peter; Lalinsky, Tibor; Meriküll, Jaanika; Oropallo, Filippo; Soares, Ana Cristina
    Erschienen: May 2015
    Verlag:  National Bank of Belgium, Brussels

    This paper provides a new cross-country evaluation of competitiveness, focusing on the linkages between productivity and export performance among European economies. We use the information compiled in the Trade module of CompNet to establish new... mehr

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 546 (282)
    Fernleihe:
    keine Fernleihe

     

    This paper provides a new cross-country evaluation of competitiveness, focusing on the linkages between productivity and export performance among European economies. We use the information compiled in the Trade module of CompNet to establish new stylized facts regarding the joint distributions of the firm-level exports performance and productivity in a panel of 15 countries, 23 manufacturing sectors during the 2000's. We confirm that exporters are more productive than nonexporters. However, this productivity premium is rising with the export experience of firms, with permanent exporters being much more productive than starters. At the intensive margin, we show that both the level and the growth of firm-level exports rise with firm productivity, and that the bulk of aggregate exports in each country are made by a small number of highly productive firms. Finally, we show that during the crisis, the growth of exports by high productive firms sustained the current account adjustment of European "stressed" economies. This last result confirms that the shape of the productivity distribution within each country can have important consequences from the point of view of the dynamics of aggregate trade patterns.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/144494
    Schriftenreihe: Working paper research / National Bank of Belgium ; no 282 (May 2015)
    Schlagworte: Unternehmen; Industrie; Export; Wettbewerb; Internationaler Wettbewerb; Vergleich; Schätzung; Europa
    Umfang: 1 Online-Ressource (circa 60 Seiten), Illustrationen
  5. Efficiency and effectiveness of the COVID-19 government support
    evidence from firm-level data
    Autor*in: Lalinsky, Tibor; Pál, Rozália
    Erschienen: June 2021
    Verlag:  European Investment Bank, Luxembourg

    We utilize several unique firm-level datasets in order to assess the efficiency and effectiveness of the government support aiming to curb the economic consequences of the coronavirus (COVID19) pandemic. The results, drawing on the experience of a... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 429
    Fernleihe:
    keine Fernleihe

     

    We utilize several unique firm-level datasets in order to assess the efficiency and effectiveness of the government support aiming to curb the economic consequences of the coronavirus (COVID19) pandemic. The results, drawing on the experience of a small open European country (Slovakia), suggest the distributed COVID-19 subsidies save non-negligible number of jobs and sustain economic activity during the first wave of the pandemic. General distribution rules designed on the fly may bring close to optimal results, as relatively more productive, privately owned, foreign-demand oriented firms are prioritized and firms with a higher environmental footprint or zombie firms record a relatively lower chance of obtaining government funding. By assuming constant cost elasticities to sales, we show that the pandemic deteriorates strongly firm profits and increases significantly the share of illiquid and insolvent firms. Government wage subsidies somewhat mitigate firm losses and have statistically significant effect, but relatively mild compared to the size of the economic shock. Our estimates also confirm that larger firms, receiving smaller relative size of the support, have more space to cover their additional liquidity needs by increasing trade liabilities or liabilities to affiliated entities, while SMEs face higher risk of insolvencies.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789286150401
    Weitere Identifier:
    hdl: 10419/234992
    Schriftenreihe: Economics - working papers ; 2021, 06
    Schlagworte: coronavirus; COVID-19; firm-level; policy measures; wage subsidies; profit; liquidity; solvency
    Umfang: 1 Online-Ressource (circa 54 Seiten), Illustrationen
  6. Covid-19 pandemic, state aid and firm productivity
    Autor*in: Bighelli, Tommaso; Lalinsky, Tibor; Vanhala, Juuso
    Erschienen: 14 January 2022
    Verlag:  Bank of Finland, Helsinki

    We study the consequences of the COVID-19 pandemic on productivity by matching firm performance outcomes with corresponding firm-level information on government support. Our cross-country evidence for five EU countries shows that the pandemic led to... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 685
    Fernleihe:
    keine Fernleihe

     

    We study the consequences of the COVID-19 pandemic on productivity by matching firm performance outcomes with corresponding firm-level information on government support. Our cross-country evidence for five EU countries shows that the pandemic led to a significant short-term decline in productivity predominantly driven by the within-firm growth component. A thorough comparative analysis of the distribution of employment and overall direct subsidies, considering separately also relative firm-level support and the probability of being supported, reveals several common characteristics. In general, the pandemic support was distributed rather efficiently, i.e. towards "deserving" firms and only marginally towards "zombie" and non-viable firms. However, government subsidies appear to have had a limited effect on aggregate productivity developments.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789523233959
    Weitere Identifier:
    hdl: 10419/249597
    Schriftenreihe: Bank of Finland research discussion papers ; 2022, 1
    Schlagworte: Covid-19; productivity; firm-level data; government support; employment subsidies; cross-country analysis
    Umfang: 1 Online-Ressource (circa 73 Seiten), Illustrationen
  7. The effect of the single currency on exports
    comparative firm-level evidence
    Autor*in: Lalinsky, Tibor; Meriküll, Jaanika
    Erschienen: [23. Januar 2019]
    Verlag:  Halle Institute for Economic Research (IWH), Member of the Leibniz Association, Halle (Saale), Germany

    We investigate how adopting the euro affects exports using firm-level data from Slovakia and Estonia. In contrast to previous studies, we focus on countries that adopted the euro individually and had different exchange rate regimes prior to doing so.... mehr

    Standort:
    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
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    Standort:
    Universitäts- und Landesbibliothek Sachsen-Anhalt / Zentrale
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    eBook
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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 577
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    We investigate how adopting the euro affects exports using firm-level data from Slovakia and Estonia. In contrast to previous studies, we focus on countries that adopted the euro individually and had different exchange rate regimes prior to doing so. Following the New Trade Theory we consider three types of adjustment: firm selection, changes in product varieties and changes in the average value of the exports that compose the exports of individual firms. The euro effect is identified by a difference in differences analysis comparing exports by firms to the euro area countries with exports to the EU countries that are not members of the euro area. The results highlight the importance of the transaction costs channel related to exchange rate volatility. We find the euro has a strong pro-trade effect in Slovakia, which switched to the euro from a floating exchange rate, while it has almost no effect in Estonia, which had a fixed exchange rate to the euro prior to the euro changeover. Our findings indicate that the euro effect manifested itself mainly through the intensive margin and that the gains from trade were heterogeneous across firm characteristics.

     
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    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/191612
    Schriftenreihe: IWH-CompNet Discussion Papers ; 2019, no. 1 (January 2019)
    Umfang: 1 Online-Ressource (III, 37 Seiten, 1,18 MB), Diagramme
  8. The effect of the single currency on exports: comparative firm-level evidence
    Autor*in: Lalinsky, Tibor
    Erschienen: 2018
    Verlag:  Eesti Pank, [Tallinn]

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    W 1221 (2018,10)
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    Quelle: Verbundkataloge
    Beteiligt: Meriküll, Jaanika (BeraterIn)
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Druck
    ISBN: 9789949606511
    Weitere Identifier:
    Schriftenreihe: Working paper series / Eesti Pank ; 2018,10
    Schlagworte: Eurozone; Währungsumstellung; Wechselkurssystem; Export; Transaktionskosten; Slowakei; Estland
    Umfang: 43 Seiten, Illustrationen
    Bemerkung(en):

    Erscheint auch als Online-Ausgabe
  9. Export characteristics and output volatility
    comparative firm-level evidence for CEE countries
    Autor*in: C̆ede, Urs̆ka; Chiriacescu, Bogdan; Harasztosi, Péter; Lalinsky, Tibor; Meriküll, Jaanika
    Erschienen: 2016
    Verlag:  Eesti Pank, [Tallinn]

    Standort:
    Leibniz-Institut für Agrarentwicklung in Transformationsökonomien, Bibliothek
    Signatur:
    L 1.2.3.3 Expo
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    W 1221 (2016,3)
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Druck
    ISBN: 9789949493791
    Schriftenreihe: Working paper series / Eesti Pank ; 2016/3
    Schlagworte: Exportdiversifizierung; Export; Volatilität; Estland; Ungarn; Rumänien; Slowakei; Slowenien
    Umfang: 35 Seiten, Illustrationen
    Bemerkung(en):

    Erscheint auch als Online-Ausgabe
  10. Export characteristics and output volatility
    comparative firm-level evidence for CEE countries
    Autor*in: Čede, Urška; Chiriacescu, Bogdan; Harasztosi, Péter; Lalinsky, Tibor; Meriküll, Jaanika
    Erschienen: 03 May 2016
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 534 (1902)
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789289920469
    Weitere Identifier:
    hdl: 10419/154335
    Schriftenreihe: Working paper series / European Central Bank ; no 1902 (May 2016)
    Schlagworte: Exportdiversifizierung; Export; Volatilität; Estland; Ungarn; Rumänien; Slowakei; Slowenien
    Umfang: 1 Online-Ressource (circa 29 Seiten), Illustrationen