This paper employs newly constructed measures for productivity differentials, external imbalances, and commodity terms …-based real exchange rate and commodity terms of trade. The estimated impact of productivity growth differentials between traded …

This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of …

productivity and monetary policy. We identify a condition under which these asset prices become more volatile without affecting the … to productivity shocks. The model we set up does well at matching second moments of exchange rate and equity returns for …

measures differences in labor productivity (the Ricardian measure), and the other differences in total factor productivity (the …

indicate that declines in factor inputs and productivity were both important determinants of the output fall. The contribution … of the productivity drop was critical, but smaller than previously reported. Possible causes of the reduction in … productivity are assessed using data on sub-national regions within Russia. Privatization and entry of private firms are found to …

developing countries. The paper finds that the traded-nontraded productivity differential is a significant determinant of the …

This paper undertakes a cross-country analysis of productivity growth at both the aggregate and sectoral level. It … finds that Asia's remarkable output growth over the past 40 years reflected both high investment, and rapid productivity … encouraged resource shifts from low- to high-productivity sectors. Looking ahead, sustaining rapid growth requires meeting a …

-term potential estimates have risks on both sides: productivity gains and investment could be volatile, but determined reforms could … sustain strong productivity growth. …

growth suggests Balassa-Samuelson factors at play. However, after 1990, the tradable-nontradable labor productivity gap, the …

I study the implications of productivity shocks in a model where agents observe the aggregate level of productivity but …