We document sectoral differences in changes in output, hours worked, prices and nominal wages in the US during the Great Depression. We explore whether contractionary monetary shocks combined with different degrees of nominal wage frictions across sectors are consistent with both sectoral as well as aggregate facts. To do so, we construct a two-sector model where goods from each sector are used...

a r t i c l e i n f o This paper studies how financial development affects the volatility of GDP growth through the channel of sectoral reallocation. For 28 OECD countries over the period 1970–2007, we construct a benchmark industrial portfolio that minimizes the economy's long-term volatility for a given level of long-term labor productivity growth. We find that financial development substanti...

This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. Using a dataset which breaks down FDI flows into primary, sec...

This study systematically examines foreign R&D in China’s manufacturing industries, using the most recent census data published by China’s State Council. It reveals that foreign firms are committing less R&D resource than China’s domestic enterprises. Foreign R&D activities are far more active in high-tech industries than in labour-intensive industries. This study also demonstrates that China’s...

The sectoral structure of most agricultural enterprises is unbalanced and uncoordinated, which underlies the need in deepened research of its improvement. This paper is dedicated to the formation and evaluation of the sectoral structure with the use of mathematical methods of data processing. Mathematical economic modeling based on optimization and simulation models has been applied for the for...

The occurrence of major zoonotic disease outbreaks in Sub-Saharan Africa has had a significant impact on the already constrained public health systems. This has, as a result, justified the need to identify creative strategies to address threats from emerging and re-emerging infectious diseases at the human-animal-environmental interface, and implement robust multi-disease public health surveill...

Working papers are preliminary documents circulated to stimulate discussion and obtain comments The Sectoral Activities Department is part of the Social Dialogue Sector of the ILO. Its objective is to promote social dialogue at the sectoral level and to facilitate the exchange of information among the ILO's constituents on labour and social developments concerning particular economic sectors. O...

BACKGROUND Two themes consistently emerge from the broad range of academics, policymakers and opinion leaders who have proposed changes to the World Health Organization (WHO): that reform efforts are too slow, and that they do too little to strengthen WHO's capacity to facilitate cross-sectoral collaboration. This study seeks to identify possible explanations for the challenges WHO faces in add...

This paper examine Lilien’s sectoral shifts hypothesis for Japan for different age cohorts. Previous studies of the sectoral shifts hypothesis for Japan have for the most part concentrated on the relationship between aggregate unemployment and sectoral shifts, and are typically not supportive of the hypothesis. However, recent increases in the unemployment rates of the young and the aged sugges...