Measured productivity is strongly procyclical. Real business cycle theories suggest that actual fluctuations in … productivity are the source of fluctuations in aggregate output. Keynesian theories maintain that fluctuations in aggregate output … to explain the procyclicality of productivity. If observed productivity shocks are true productivity shocks, a function …

On the basis of a comparative growth analysis of ten major industrial countries, it is shown that the productivity … aggregated manufacturing sector of the ten economies this explains on average about 60% of the productivity slowdown. A more … aggregate business sector and a partial view of labour productivity growth in the service industries of these economies. The …

provide a microfoundation for aggregate productivity shocks. Existing research has focused on using aggregate shocks to …

aggregate productivity shocks, taste shocks, and, potentially, shocks to monopoly power. We show how the dispersion of … negative short-run response of employment to productivity shocks; (iii) imply that productivity shocks explain only a small …

unanticipated and large, they are a plausible instrument for identifying the impact of exporting on firm productivity and other … that export growth leads to increases firm productivity and other firm performance measures. Consistent with "earning …-by-exporting", the productivity impact of export growth is greater when firms export to more developed countries …

We study the effect of releasing public information about productivity or monetary shocks when agents learn from …

leisure. Business cycles are assumed to be driven by permanent and stationary neutral productivity shocks, permanent …