of sectoral labor input and total factor productivity trend growth variation on the persistent decline in long-run output …-term decline. Zooming into the reunification period, we find a pronounced decline of total factor productivity growth in …

models suggest that a shortfall in productivity-enhancing investments temporarily slows technological progress, creating a …-level exposure to the 2008-9 financial crisis, I show that tight credit reduced investments in productivity-enhancement, and has … 12% higher today if productivity-enhancing investments had grown at pre-crisis rates. …

the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic …

productivity, but this effect was stronger in the areas in which railways were already built. Moreover, railways helped industrial …

, Britain, France, Germany and Japan and proceeds to evaluate the hypothesis of a productivity bonus as postulated by many …Does the concept of General Purpose Technologies help explain periods of faster and slower productivity advance in … there was no generalized productivity boost from electrical power diffusion as postulated by many existing GPT models. The …

investigate different identification schemes for bi-variate systems comprising U.S. stock prices and total factor productivity …. The former variable is viewed as reflecting expectations of economic agents about future productivity. It is found that … used for total factor productivity. -- Cointegration ; Markov regime switching model ; vector error correction model …

question in the context of a heterogeneous-firm RBC model with persistent firm-level productivity shocks and lumpy capital …