leaders. We find strong evidence of technological diffusion but not full convergence; differences in total factor productivity …

amplifies the risk from idiosyncratic relative productivity shocks but reduces risk from aggregate shocks to absolute advantage …

The age structure of capital plays an important role in the measurement of productivity. It has been argued that the … productivity measurement. A proposition proves that Nelson's (1964) formula is wrong. Our final proposition shows that inclusion of … the vintage effect prompts an upward correction of measured productivity growth in times of an aging stock of capital …

between infrastructure and productivity growth remains controversial. In this regard, it is somewhat surprising that … dramatic productivity boost from increased infrastructure outlays. In a specification designed to provide an upper bound for …Researchers, commentators, and politicians have devoted steadily more attention to infrastructure in response to claims …

International trade has been cited as a source of widening wage inequality in industrial nations. Consistent with this …