job creation in the US, is its slower productivity growth. This paper begins with data showing that US productivity growth … has been essentially zero since 1973 outside of manufacturing. In contrast, productivity growth in US manufacturing has …

panel of industries in 17 countries from 1993-2007. We find that industrial robots increased both labor productivity and ….37 percentage points. We also find that robots increased both wages and total factor productivity. While robots had no significant …

money demand falls, while a positive goods productivity shock raises temporary output and velocity. The paper explains such … important for velocity during less stable times and the goods productivity shock more important during stable times. … decentralized banking that produces exchange credit. Positive shocks to credit productivity and money supply increase velocity, as …

' capacity to borrow. Standard productivity shocks can only partially explain the movements in real and financial variables. The …