for large responses of sectoral and aggregate outputs to idiosyncratic productivity shocks. We illustrate our results …

aggregate productivity shock generates a persistent productivity difference between the two types of matches, creating an …This paper focuses on tenure driven productivity dynamics of a firm-worker match as a potential explanation of … "unemployment volatility puzzle". We let new matches and continuing jobs differ by their productivity levels and by their …

We introduce long-run investment productivity risk in a two-sector production economy to explain the joint behavior of … macroeconomic quantities and asset prices. Long-run productivity risk in both sectors, for which we provide economic and empirical …

the delayed responses of output and consumption after a productivity shock. …In this paper we study the transmission mechanism of productivity shocks in a model with rule-of-thumb consumers. In … of rule-of-thumb consumers is also very helpful in accounting for recent empirical evidence on productivity shocks. Rule …

per cent. Therefore, real rigidities are useful in the study of fiscal shocks in addition to monetary and productivity …