We examine the relationship between lax monetary policy, access to high-yield bond markets and productivity in the US … higher risk profile. Since the relationship between credit ratings and firm-level productivity is U-shaped, the aggregate … effect on productivity is a priori unclear. Turning to the real economy, we thus analyse whether this additional access to …

This paper shows that rising real estate prices reduce industry productivity, because they lead to a reallocation of … labor towards inefficient firms. This has significant negative consequences for aggregate industry productivity. I find that … industries with stronger growth in real estate value see a significant reduction in total factor productivity growth. A 10 …

In this report we review the literature on the relationship between ICT and productivity. In Sect. 1 we discuss in … broad terms the theoretical relationship between ICT and productivity, while in Sect. 2 we present the growth accounting …, total factor productivity). Within the growth-accounting methodology, in Sect. 3, we discuss the U.S. - E.U. productivity …

This paper presents a productivity growth measure that explicitly accounts for natural capital as an input factor and … productivity measurement for bad outputs and estimates of their shadow prices, while the inclusion of natural capital is discussed … in more depth in a companion paper. As bad outputs are the target of environmental policies, a productivity measure that …

bank health and the consequences for aggregate productivity in 11 European countries. Controlling for cyclical effects, the … constrains the growth of more productive firms, to the detriment of aggregate productivity growth. Our results suggest that …

policies to cross-country differences in productivity, innovation and resource allocation. This paper describes the steps taken … to and the trade-offs involved in constructing firm-level total factor productivity (TFP) measures using ORBIS, a cross … productivity measures can be calculated using readily available variables for all countries, and presents possible solutions to …

inter-related sources of labour productivity weakness: the survival of “zombie” firms (firms that would typically exit in a … misallocation and the increasing survival of low productivity firms have contributed to the productivity slowdown. …

productivity. We examine these claims. Non-parametric plots and regressions show a robust positive association between the … manufacturing sector and Business R&D expenditures (BERD), while the relationship between manufacturing and exports or productivity …