Details about Miguel Leon-Ledesma

E-mail:
Homepage:	http://www.kent.ac.uk/economics/staff/profiles/miguel-leon-ledesma.html
Phone:	00 44 1227 823026
Postal address:	School of Economics, Keynes College, University of Kent, Canterbury, Kent, CT2 7NP UK
Workplace:	School of Economics, University of Kent, (more information at EDIRC) Centre for Economic Policy Research (CEPR), (more information at EDIRC)

Access statistics for papers by Miguel Leon-Ledesma.

Last updated 2020-10-30. Update your information in the RePEc Author Service.

Short-id: ple108

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Working Papers

2020

1. The missing link: monetary policy and the labor share
   Bank of England working papers, Bank of England
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (6)
   Discussion Papers, Centre for Macroeconomics (CFM) (2018)
   LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2018)
   Studies in Economics, School of Economics, University of Kent (2018) View citations (2)

2018

2. The Rise of Services and Balanced Growth in Theory and Data
   2018 Meeting Papers, Society for Economic Dynamics View citations (1)
   Also in Discussion Papers, Centre for Macroeconomics (CFM) (2017) View citations (4)
   LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2017) View citations (2)

2017

3. Current account dynamics and the real exchange rate: Disentangling the evidence
   University of East Anglia School of Economics Working Paper Series, School of Economics, University of East Anglia, Norwich, UK. View citations (1)
   Also in Working Papers, Bank of Greece (2017) View citations (1)
4. Industry Volatility and International Trade
   Studies in Economics, School of Economics, University of Kent
5. Selecting Primal Innovations in DSGE models
   Working Paper Series, Federal Reserve Bank of Chicago View citations (2)

2016

6. Appropriate Technology and Balanced Growth
   Studies in Economics, School of Economics, University of Kent View citations (4)
   See also Journal Article in Review of Economic Studies (2019)
7. Appropriate Technology and the Labour Share
   Studies in Economics, School of Economics, University of Kent View citations (3)
8. Fundamental shock selection in DSGE models
   2016 Meeting Papers, Society for Economic Dynamics View citations (4)
   Also in Studies in Economics, School of Economics, University of Kent (2015) View citations (8)
9. Potential Growth, Misallocation, and Institutional Obstacles: Firm-Level Evidence
   ADB Economics Working Paper Series, Asian Development Bank
10. Production and Endogenous Bankruptcy under Collateral Constraints
    Studies in Economics, School of Economics, University of Kent View citations (1)
11. The rise of the service economy and the real return on capital
    Studies in Economics, School of Economics, University of Kent View citations (4)

2015

12. External constraints and endogenous growth: Why didn't some countries benefit from capital flows?
    Post-Print, HAL View citations (1)
    Also in Studies in Economics, School of Economics, University of Kent (2013)
    Working Papers, HAL (2013)
    AMSE Working Papers, Aix-Marseille School of Economics, France (2013)
    See also Journal Article in Journal of International Money and Finance (2015)
13. German Wage Moderation and European Imbalances: Feeding the Global VAR with Theory
    Studies in Economics, School of Economics, University of Kent View citations (5)
    Also in Discussion Papers, Deutsche Bundesbank (2015) View citations (3)
    See also Journal Article in Journal of Money, Credit and Banking (2019)

2013

14. Shocking Stuff: Technology, Hours, and Factor Substitution
    School of Economics Discussion Papers, School of Economics, University of Surrey View citations (2)
    Also in EcoMod2010, EcoMod (2010) View citations (5)
    Working Paper Series, European Central Bank (2010) View citations (19)
    See also Journal Article in Journal of the European Economic Association (2014)
15. World, Country, and Sector Factors in International Business Cycles
    University of East Anglia Applied and Financial Economics Working Paper Series, School of Economics, University of East Anglia, Norwich, UK. View citations (12)
    Also in Studies in Economics, School of Economics, University of Kent (2013) View citations (17)
    See also Journal Article in Journal of Economic Dynamics and Control (2013)

2012

16. A Disaggregate Characterisation of Recessions
    Studies in Economics, School of Economics, University of Kent View citations (1)
17. Explaining the Skill Premium: Technical Change or Capita-Skill Complements?
    EcoMod2012, EcoMod View citations (2)
18. Interpreting the Hours-Technology time-varying relationship
    Studies in Economics, School of Economics, University of Kent View citations (4)
    Also in Working papers, Banque de France (2011) View citations (4)
19. Non-Balanced Growth and Production Technology Estimation
    Studies in Economics, School of Economics, University of Kent View citations (5)
20. The dynamics of hours worked and technology
    Working Papers, Banco de España View citations (20)
    See also Journal Article in Journal of Economic Dynamics and Control (2017)

2011

21. Aggregation, the skill premium, and the two-level production function
    Working Paper Series, European Central Bank View citations (2)
22. The Choice of CES Production Techniques and Balanced Growth
    Studies in Economics, School of Economics, University of Kent View citations (12)

2010

23. A Note on Balanced Growth with a less than unitary Elasticity of Substitution
    Studies in Economics, School of Economics, University of Kent View citations (4)
24. Does the Real Interest Parity Hypothesis Hold? Evidence for Developed and Emerging Markets
    EcoMod2003, EcoMod View citations (9)
    Also in Studies in Economics, School of Economics, University of Kent (2003) View citations (19)
    See also Journal Article in Journal of International Money and Finance (2007)
25. In Dubio, pro CES: technical progress specification and the elasticity of substitution
    EcoMod2010, EcoMod
26. In dubio pro CES - Supply estimation with mis-specified technical change
    Working Paper Series, European Central Bank View citations (15)
27. Interest Rates and Output in the Long Run
    EcoMod2004, EcoMod
    Also in Money Macro and Finance (MMF) Research Group Conference 2004, Money Macro and Finance Research Group (2004) View citations (2)
    Working Paper Series, European Central Bank (2005) View citations (7)
    Studies in Economics, School of Economics, University of Kent (2004) View citations (1)
28. Is low inflation really causing the decline in exchange rate pass-through?
    Studies in Economics, School of Economics, University of Kent View citations (2)
29. Net Foreign Assets, Productivity and Real Exchange Rates in Constrained Economies
    Studies in Economics, School of Economics, University of Kent
    Also in Discussion Papers, School of Economics, The University of New South Wales (2008) View citations (4)
    See also Journal Article in European Economic Review (2012)

2009

30. Efficiency and frontier technology in the aftermath of recessions: international evidence
    Studies in Economics, School of Economics, University of Kent View citations (3)
31. Identifying the elasticity of substitution with biased technical change
    Working Paper Series, European Central Bank View citations (59)
    See also Journal Article in American Economic Review (2010)
32. International Output Convergence, Breaks, and Asymmetric Adjustment
    MPRA Paper, University Library of Munich, Germany View citations (4)
    See also Journal Article in Studies in Nonlinear Dynamics & Econometrics (2011)
33. On causal Relationships Between Exchange Rates and Fundamentals: Better Than You Think
    Studies in Economics, School of Economics, University of Kent View citations (2)
34. Smooth Breaks and Nonlinear Mean Reversion: Post-Bretton Woods Real Exchange Rates
    MPRA Paper, University Library of Munich, Germany View citations (2)
    See also Journal Article in Journal of International Money and Finance (2010)
35. Sources of Current Account Fluctuations in Industrialized Countries
    Studies in Economics, School of Economics, University of Kent View citations (4)
36. The Effect of Oil Price on China's Exports
    Post-Print, HAL View citations (19)
    Also in Studies in Economics, School of Economics, University of Kent (2008) View citations (1)
    See also Journal Article in China Economic Review (2009)

2008

37. Can Globalisation Stop the Decline in Commodities' Terms of Trade?
    Post-Print, HAL View citations (5)
    Also in Studies in Economics, School of Economics, University of Kent (2005) View citations (1)
    See also Journal Article in Cambridge Journal of Economics (2008)
38. Exchange Rate Pass-Through Into Inflation: The Role of Asymmetries and NonLinearities
    Studies in Economics, School of Economics, University of Kent View citations (18)
39. Testing for Granger (non)-Causality in a Time Varying Coefficient VAR Model
    Studies in Economics, School of Economics, University of Kent View citations (6)
    See also Journal Article in Journal of Forecasting (2008)

2007

40. How is real convergence driving nominal convergence in the new EU Member States?
    Working Paper Series, European Central Bank View citations (7)
    See also Journal Article in Journal of International Money and Finance (2008)
41. Non-linearities and Unit Roots in G7 Macroeconomic Variables
    Birkbeck Working Papers in Economics and Finance, Birkbeck, Department of Economics, Mathematics & Statistics View citations (4)
    See also Journal Article in The B.E. Journal of Macroeconomics (2008)

2006

42. Remittances, Institutions and Economic Growth
    IZA Discussion Papers, Institute of Labor Economics (IZA) View citations (99)
    See also Journal Article in World Development (2009)

2004

43. Current Account Sustainability in the US: What Do We Really Know About It?
    Studies in Economics, School of Economics, University of Kent View citations (5)
    See also Journal Article in Journal of International Money and Finance (2010)
44. Does the World Real Interest Rate Affect the Real Exchange Rate? The South East Asian Experience
    Studies in Economics, School of Economics, University of Kent View citations (1)
    See also Journal Article in The Journal of International Trade & Economic Development (2006)

2003

45. Cultural Heritage and Growth
    Studies in Economics, School of Economics, University of Kent
46. Unemployment, Hysterisis and Transition
    Royal Economic Society Annual Conference 2003, Royal Economic Society View citations (2)
    Also in Working Paper Series, European Central Bank (2003) View citations (16)
    See also Journal Article in Scottish Journal of Political Economy (2004)

2002

47. Exports, Product Differentiation and Knowledge Spillovers
    Studies in Economics, School of Economics, University of Kent View citations (3)
    See also Journal Article in Open Economies Review (2005)
48. Habit Formation, Work Ethics, and Technological Progress
    Studies in Economics, School of Economics, University of Kent View citations (1)
    See also Journal Article in Manchester School (2004)

2001

49. International Migration and the Role of Remittances in Eastern Europe
    Studies in Economics, School of Economics, University of Kent View citations (67)

2000

50. Cumulative Growth and the Catching-up Debate from a Dis-equilibrium Standpoint
    Studies in Economics, School of Economics, University of Kent View citations (2)
51. R&D Spillovers and Export Performance: Evidence from the OECD Countries
    Studies in Economics, School of Economics, University of Kent View citations (4)
52. Testing the Balassa-Samuelson Effect: Implications for Growth and PPP
    Studies in Economics, School of Economics, University of Kent View citations (6)
    See also Journal Article in Journal of Macroeconomics (2003)
53. The Intertemporal Substitution Model of Labor Supply in an Open Economy
    Studies in Economics, School of Economics, University of Kent View citations (4)
54. Unemployment Hysteresis in the US and the EU: a Panel Data Approach
    Studies in Economics, School of Economics, University of Kent View citations (9)

1999

55. Accumulation, Innovation and Catching-Up: An Extended Cumulative Growth Model
    Studies in Economics, School of Economics, University of Kent View citations (1)
    See also Journal Article in Cambridge Journal of Economics (2002)

1998

56. Economic Growth and Verdoorn's Law in the Spanish Regions, 1962-1991
    Studies in Economics, School of Economics, University of Kent View citations (8)
57. The Endogeneity of the Natural Rate of Growth
    Studies in Economics, School of Economics, University of Kent View citations (19)
    See also Journal Article in Cambridge Journal of Economics (2002)

1997

58. An Application of Thirlwall's Law to the Spanish Economy
    Studies in Economics, School of Economics, University of Kent View citations (2)
    See also Journal Article in Journal of Post Keynesian Economics (1999)

Journal Articles

2019

1. Appropriate Technology and Balanced Growth
   Review of Economic Studies, 2019, 86, (2), 807-835 View citations (5)
   See also Working Paper (2016)
2. German Wage Moderation and European Imbalances: Feeding the Global VAR with Theory
   Journal of Money, Credit and Banking, 2019, 51, (2-3), 617-653
   See also Working Paper (2015)
3. Selecting structural innovations in DSGE models
   Journal of Applied Econometrics, 2019, 34, (2), 205-220 View citations (2)

2018

4. Variable markups and capital-labor substitution
   Economics Letters, 2018, 171, (C), 34-36 View citations (1)

2017

5. The dynamics of hours worked and technology
   Journal of Economic Dynamics and Control, 2017, 82, (C), 67-82 View citations (13)
   See also Working Paper (2012)

2016

6. Misallocation, Access to Finance, and Public Credit: Firm-Level Evidence
   Asian Development Review, 2016, 33, (2), 119-143 View citations (4)
7. Reallocation effects of recessions and financial crises: an industry-level analysis
   The B.E. Journal of Macroeconomics, 2016, 16, (2), 485-522
8. Special Issue on Potential Growth and Misallocation in Asia
   Asian Development Review, 2016, 33, (2), iii-vi

2015

9. External constraints and endogenous growth: Why didn't some countries benefit from capital flows?
   Journal of International Money and Finance, 2015, 56, (C), 223-249 View citations (2)
   See also Working Paper (2015)
10. Production Technology Estimates and Balanced Growth
    Oxford Bulletin of Economics and Statistics, 2015, 77, (1), 40-65 View citations (38)

2014

11. EFFICIENCY AND PRODUCTION FRONTIERS IN THE AFTERMATH OF RECESSIONS: INTERNATIONAL EVIDENCE
    Macroeconomic Dynamics, 2014, 18, (6), 1326-1350 View citations (4)
12. SHOCKING STUFF: TECHNOLOGY, HOURS, AND FACTOR SUBSTITUTION
    Journal of the European Economic Association, 2014, 12, (1), 108-128 View citations (29)
    See also Working Paper (2013)

2013

13. World, country, and sector factors in international business cycles
    Journal of Economic Dynamics and Control, 2013, 37, (12), 2913-2927 View citations (12)
    See also Working Paper (2013)

2012

14. Net foreign assets, productivity and real exchange rates in constrained economies
    European Economic Review, 2012, 56, (3), 295-316 View citations (16)
    See also Working Paper (2010)

2011

15. Does exchange rate pass-through respond to measures of macroeconomic instability?
    Journal of Applied Economics, 2011, 14, 167-180 View citations (32)
16. International Output Convergence, Breaks, and Asymmetric Adjustment
    Studies in Nonlinear Dynamics & Econometrics, 2011, 15, (3), 1-33 View citations (7)
    See also Working Paper (2009)

2010

17. Current account sustainability in the US: What did we really know about it?
    Journal of International Money and Finance, 2010, 29, (3), 442-459 View citations (48)
    See also Working Paper (2004)
18. Identifying the Elasticity of Substitution with Biased Technical Change
    American Economic Review, 2010, 100, (4), 1330-57 View citations (169)
    See also Working Paper (2009)
19. REVISITING THE REAL WAGES–UNEMPLOYMENT RELATIONSHIP. NEW RESULTS FROM NON‐LINEAR MODELS
    Bulletin of Economic Research, 2010, 62, (1), 79-96 View citations (9)
20. Smooth breaks and non-linear mean reversion: Post-Bretton Woods real exchange rates
    Journal of International Money and Finance, 2010, 29, (6), 1076-1093 View citations (41)
    See also Working Paper (2009)

2009

21. Fear of Floating in Brazil: Did Inflation Targeting matter?
    The North American Journal of Economics and Finance, 2009, 20, (3), 255-266 View citations (19)
22. Remittances, Institutions, and Economic Growth
    World Development, 2009, 37, (1), 81-92 View citations (90)
    See also Working Paper (2006)
23. The effect of oil price on China's exports
    China Economic Review, 2009, 20, (4), 793-805 View citations (30)
    See also Working Paper (2009)

2008

24. A Simple Nonlinear Dynamic Model for Unemployment: Explaining the Spanish Case
    Discrete Dynamics in Nature and Society, 2008, 2008, 1-11
25. Can globalisation stop the decline in commodities' terms of trade?
    Cambridge Journal of Economics, 2008, 32, (5), 683-701 View citations (10)
    See also Working Paper (2008)
26. How is real convergence driving nominal convergence in the new EU Member States?
    Journal of International Money and Finance, 2008, 27, (2), 227-248 View citations (12)
    See also Working Paper (2007)
27. Non-Linearities and Unit Roots in G7 Macroeconomic Variables
    The B.E. Journal of Macroeconomics, 2008, 8, (1), 1-44 View citations (8)
    See also Working Paper (2007)
28. Testing for Granger (non-)causality in a time-varying coefficient VAR model
    Journal of Forecasting, 2008, 27, (4), 293-303 View citations (7)
    See also Working Paper (2008)
29. Time-series output convergence tests and stationary covariates
    Economics Letters, 2008, 101, (3), 297-299 View citations (6)

2007

30. A Long-Run Non-Linear Approach to the Fisher Effect
    Journal of Money, Credit and Banking, 2007, 39, (2-3), 543-559 View citations (47)
    Also in Journal of Money, Credit and Banking, 2007, 39, (2‐3), 543-559 (2007) View citations (1)
31. Does the real interest parity hypothesis hold? Evidence for developed and emerging markets
    Journal of International Money and Finance, 2007, 26, (3), 364-382 View citations (57)
    See also Working Paper (2010)
32. Unemployment hysteresis in EU countries: what do we really know about it?
    Journal of Economic Studies, 2007, 34, (2), 80-89 View citations (25)

2006

33. Does the world real interest rate affect the real exchange rate? The South East Asian experience
    The Journal of International Trade & Economic Development, 2006, 15, (4), 441-467 View citations (3)
    See also Working Paper (2004)
34. Population and income: Is there a puzzle?
    Journal of Development Studies, 2006, 42, (6), 909-917 View citations (3)

2005

35. Exports, Product Differentiation and Knowledge Spillovers
    Open Economies Review, 2005, 16, (4), 363-379 View citations (19)
    See also Working Paper (2002)
36. Real exchange rate and employment performance in an open economy
    Research in Economics, 2005, 59, (1), 67-80 View citations (8)

2004

37. Habit formation, work ethics and technological progress
    Manchester School, 2004, 72, (3), 403-413 View citations (12)
    See also Working Paper (2002)
38. UNEMPLOYMENT, HYSTERESIS AND TRANSITION
    Scottish Journal of Political Economy, 2004, 51, (3), 377-401 View citations (61)
    See also Working Paper (2003)

2003

39. Testing the Balassa-Samuelson effect: Implications for growth and the PPP
    Journal of Macroeconomics, 2003, 25, (2), 241-253 View citations (36)
    See also Working Paper (2000)

2002

40. Accumulation, innovation and catching-up: an extended cumulative growth model
    Cambridge Journal of Economics, 2002, 26, (2), 201-216 View citations (20)
    See also Working Paper (1999)
41. Is the natural rate of growth exogenous? A reply
    Banca Nazionale del Lavoro Quarterly Review, 2002, 55, (221), 229-232
    Also in BNL Quarterly Review, 2002, 55, (221), 229-232 (2002)
42. The endogeneity of the natural rate of growth
    Cambridge Journal of Economics, 2002, 26, (4), 441-459 View citations (69)
    See also Working Paper (1998)
43. Unemployment Hysteresis in the US States and the EU: A Panel Approach
    Bulletin of Economic Research, 2002, 54, (2), 95-103 View citations (45)

2000

44. Economic Growth and Verdoorn's Law in the Spanish Regions, 1962-91
    International Review of Applied Economics, 2000, 14, (1), 55-69 View citations (11)
45. Il tasso naturale di crescita e davvero esogeno?
    Moneta e Credito, 2000, 53, (211), 263-277
46. Is the natural rate of growth exogenous?
    BNL Quarterly Review, 2000, 53, (215), 433-445 View citations (9)
    Also in Banca Nazionale del Lavoro Quarterly Review, 2000, 53, (215), 433-445 (2000) View citations (17)
    See also Chapter (2007)

1999

47. An Application of Thirlwall’s Law to the Spanish Economy
    Journal of Post Keynesian Economics, 1999, 21, (3), 431-439 View citations (4)
    See also Working Paper (1997)
48. Verdoorn's Law and increasing returns: an empirical analysis of the Spanish regions
    Applied Economics Letters, 1999, 6, (6), 373-376 View citations (4)

Chapters

2010

1. The Endogenous Nature of the ‘Natural’ Rate of Growth
   Chapter 10 in Handbook of Alternative Theories of Economic Growth, 2010 View citations (10)

2007

2. Is the Natural Rate of Growth Exogenous?
   Chapter 4 in Economic Growth, 2007 View citations (2)
   See also Journal Article in BNL Quarterly Review (2000)

2006

3. Cycles, Aggregate Demand, and Growth
   Chapter 5 in Growth and Economic Development, 2006