This paper provides empirical evidence on the response of labor productivity to the arrival of new inventions. The … analysis shows that labor productivity may temporarily fall below trend after technological progress. However, the effects on … productivity differ between the pre- and post-World War II periods. The pre-war period shows evidence of a productivity slowdown as …

output and total factor productivity (TFP) in the wake of a crisis. Second, we develop a DSGE model with financial frictions …

exacerbating price inflation or output contraction. Nominal wage inflation decreases in response to productivity shocks …

We investigate the long-run relationship between the real exchange rate, traded and nontraded productivity levels, and … find that in 1991 (the last year productivity data are available) there is less overvaluation of the U.S. dollar than that …

Amid total factor productivity (TFP) shocks job-to-job flows amplify the volatility of unemployment, but the aggregate …-search theory: under standard calibrations models without OTJ search generate implausibly low unemployment volatility, while models …

How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that …

production and GDP. The peak impact is felt fairly quickly at around 6-12 months after the shock, and becomes statistically …