En los decenios recien pasados los paises del Asia Oriental han experimentado un desarrollo economico mas satisfactorio que el de los paises latinoamericanos. Se han propuesto numerosas interpretaciones para explicar esta disparidad. El presente trabajo considera la hipotesis de que, debido a...

Investment-specific technology (IST) shocks are often interpreted as multi-factor productivity (MFP) shocks in a separate investment-producing sector. However, this interpretation is strictly valid only when some stringent conditions are satisfied. Some of these conditions are at odds with the...

In the second half of the 1990s, labor productivity growth rose in the United States and declined in most parts of Europe. This paper documents changes in capital deepening and multi-factor productivity (MFP) growth in information and communication technology (ICT) and non-ICT sectors. We...