This paper provides an empirical analysis of the dynamic determinants of US labor productivity growth by considering that the latter is an endogenous outcome, mainly influenced by changes in the size of the economy and relative labor costs. Specifically, we consider that changes in GDP, real...

This paper investigates the importance of time-varying parameters in US macro-financial linkages. To do so, we adopt a flexible hybrid time-varying parameter Bayesian vector autoregression with stochastic volatility empirical framework. We find that, first, macro-financial linkages are mainly...