stock, and productivity losses in the wake of an unprecedented sectoral reallocation, hightened uncertainty, and reduced …

This paper examines the role of removing obstacles to competition in product markets in raising growth and productivity …. Using firm-level data from Italy during 2003-13 and OECD measures of product market regulation, we estimate the effect of … deregulation in network sectors on value added and productivity of firms in these sectors, as well as firms using these …

Traditionally, shocks to total factor productivity (TFP) are considered exogenous and the employment response depends … efficiency, rendering TFP endogenous to firms' production decisions. We present robust cross-country evidence of a strong … reductions in TFP growth. These results have important policy implications, including that low productivity growth in some …

investment, partly offsetting the sharpdecline in oil investment. Improvements in productivity are essential to lift potential …

We reconsider the macroeconomic implications of public investment efficiency, defined as the ratio between the actual … capital/output ratio. The implication is that efficiency and scarcity of public capital are likely to be inversely related … across countries. It follows that both efficiency and the rate of return need to be considered together in assessing the …

We study the role of financial frictions in explaining the sharp and persistent productivity growthslowdown in advanced … tightening creditconditions made an important contribution to the post-crisis productivity slowdown. Specifically:(i) firms that … isone plausible way through which financial frictions undermined productivity. All of these effectsare highly persistent and …

is explained more by a decline in productivity rather than a lack of investment. Second, tourism has been a significant … contributor to higher growth (through both capital accumulation and productivity) and lower output volatility, and in many … are islands have limited growth. Policies aimed at improving productivity, further development of the tourism sector, and …

This paper examines the impact of highway expansion on aggregate productivity growth andsectoral reallocation between … indirect impact of trade costs on city productivity. I then construct an instrumentalvariable to examine the causal impact of … highways on economic outcomes and the underlyingchannels. The results suggest that highways promoted aggregate productivity …

as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital …