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. …

Many policymakers view power outages as a major constraint on firm productivity in developing countries. Yet empirical … the long-run general-equilibrium effects of power outages on productivity. Outages lower productivity in the model by …

productivity depends on their age through the build-up of labour market experience and the depreciation of human capital. We make … wisdom following an increase in longevity, depending on the corresponding change in the age-productivity profile. …

suggests a negative effect on total factor productivity. Using newly collected longitudinal data on pensioners, we quantify … pensioner-worker ratio decreases factor productivity by 5-6%. The effect is stronger when production is labor intensive and …