This paper studies the implications of perceived default risk for aggregate output and productivity. Using a model of … credit across firms with heterogeneous productivity. Further, we find that these losses accounted for over half of the … productivity fall between 2008 and 2009, and persisted for smaller (although not larger) firms. …

We provide evidence that a weak banking sector has contributed to low productivity growth following the European … natural experiment to study the effects of reduced bank capital adequacy on productivity. Affected banks respond not only by … the resulting increase in factor misallocation accounts for 20% of the decline in productivity in Portugal in 2012. …

of a technique depends on both the productivity embodied in the technique and the cost of the particular input; when … productivity depends on whether the lower cost firms are the important suppliers of inputs. When the share of intermediate goods in … production is high, the lower cost firms are selected as suppliers more frequently. This raises aggregate productivity and also …

percent for total factor productivity. Overall, the distortions explain about 67 percent of the variation in income per worker …

We study how total factor productivity (TFP), energy prices, and the Great Moderation are linked. First we estimate a … negatively affected productivity. This spillover has since disappeared. Second, we show that within the framework of a dynamic … stochastic general equilibrium model, the disappearance of this energy-productivity spillover generates the significantly lower …

We use data on Austrian firms and employees to estimate the effects of employer-provided training on productivity … general, we find a robust positive elasticity of training on productivity of about 0.04. In-house training is more effective …

linking this to productivity, which turns out to be important. The paper also provides an example of modeling productivity …

: interest rate parity, productivity based models, and a composite specification incorporating the real interest differential …

-of-sample prediction of a wider set of models that have been proposed in the last decade, namely interest rate parity, productivity based …

India's dramatic trade liberalization starting from 1991 on market efficiency and productivity growth using Indian … from the shrinking of market size experienced no change or falling total factor productivity (TFP) growth; whereas leather …