framework of a conventional real business cycle model. Each household receives a private signal about future productivity. In … productivity affects the quantitative properties of our real business cycle model in three dimensions. First, households' ability … rate rises when the stock price perfectly reveals innovations to future productivity. Second, when noise trader demand …

IT are more productive, and if heavier users of IT are indeed more productive, how does this increase in productivity …

The US has experienced a sustained increase in productivity growth since the mid-1990s, particularly in sectors that … intensively use information technologies (IT). This has not occurred in Europe. If the US “productivity miracle” is due to a … abroad. This paper shows in fact that US multinationals operating in the UK do have higher productivity than non …

Business support policies designed to raise productivity and employment are common worldwide, but rigorous micro … positive program treatment effect on employment, investment and net entry but not on TFP. OLS underestimates program effects …,300 suggesting that in some respects investment subsidies can be cost effective. …

fixed investment that became excessive and proved to be unsustainable, while the productivity acceleration helps to account … productivity growth linked to the delayed effects of previously invented 'general purpose technologies' stimulated an increase in …-01 collapse of investment and the stock market proves that good public policy matters, going beyond the narrowly defined …

and investment. When the share of output that accrues to the owners of natural resources rises, the demand for capital … allocation of capital may, however, enhance the quantity as well as the quality of new investment and sustain growth. Empirical … thereby inhibiting economic growth. The results also suggest that abundant natural resources may hurt saving and investment …

central to this period but not to be a pure neoclassical phenomenon. It is argued that theory has run ahead of measurement and …-ante returns on investment. …

, falling labor share and accumulation of a large foreign surplus. The theory makes only minimal deviations from a neoclassical … growth model. Its building blocks are financial imperfections and reallocation among firms with heterogeneous productivity …. Some firms use more productive technologies than others, but low-productivity firms survive because of better access to …