measured productivity and distorts the picture of what is happening in the economy. In this paper, we incorporate expensed and … sweat equity in an otherwise standard business cycle model. We use the model to analyze productivity in the United States … understanding the dramatic rise in hours and the modest growth in measured productivity. …

model, economic fluctuations are driven by productivity shocks and by variations in government purchases and in distorting … taxes. The model is simulated using quarterly data on total factor productivity, government purchases, and the average tax …

, increases in productivity. We construct a technology-ladder model that captures this wisdom. As in other technology …

Total factor productivity (TFP) differs greatly across countries. In this paper, I provide a novel rationalization for …

imports: the reciprocal of the terms of trade. Cast this way, a> change in the terms of trade acts as a productivity shock. Or … and then> generalizing, we show that changes in the terms of trade have no first-order effect on> productivity when output …

We study the impact of regulation on productivity and welfare in the U.S. sugar manufacturing industry. While this U …, 1934-74. We show that regulation significantly reduced productivity, with these productivity losses leading to large … ? those arising from higher prices. We also argue that the channels through which regulation led to large productivity and …

Between 1929 and 1933, real output per adult fell over 30 percent and total factor productivity fell 18 percent. This … productivity decrease is much larger than expected from just extrapolating the productivity decrease that typically occurs during …-third of the 18 percent decrease, and I conclude that the productivity decrease during the Great Depression remains a puzzle. …

differences are of minor importance. What is all-important is total factor productivity. In addition, the paper presents industry …

. In response to the crisis, these industries dramatically increased productivity. Labor productivity doubled in a few … years (whereas it had changed little in the preceding decade). Materials productivity increased by more than half. Capital … productivity increased as well. I show that most of the productivity gains were due to changes in work practices. Work practice …