disproportionately from road-building: when road growth changes, productivity growth changes more in industries that are more vehicle …At a macroeconomic level, infrastructure and productivity are positively correlated in the United States and other … infrastructure to productivity, or the reverse. This paper focuses on roads, and finds that vehicle-intensive industries benefit …

countries. The paper begins by surveying earlier estimates of relative productivity and unit labor cost levels and evaluating … productivity translated into dollars at purchasing power parity exchange rates. These estimates are compared with results obtained …

Productivity rises in booms and falls in recessions. There are four main explanations for procyclical productivity: (i … are particularly important in explaining procyclical productivity. We argue that the reallocation effects that we identify …

Explanations of procyclical productivity playa key role in a variety of business-cycle models. Most of these models … aggregate productivity changes into several terms, each of which has an economic interpretation. However, many of these tenus … implies that input growth is uncorrelated with technology change. …

Most growth models assume capital is homogeneous. This contradicts intuition and empirical evidence that the majority …-optimization models display the same asymptotic growth rates whether technology is embodied (vintage capital) or disembodied. This paper … optimization versions of the three main types of vintage capital models. The conclusion is that although steady state growth rates …

, investment, average productivity and output . This evidence contrasts sharply with the results reported in a large and growing …

Most macroeconomic models imply that faster output growth tends to lower a country's trade balance by raising its … suffering any deterioration in their terms of trade. This paper analyzes the growth of U.S. imports from different source …

, many other industrial countries have not experienced a pickup in productivity growth. To explain this productivity … and slowed productivity growth in a number of industrial countries. We then develop a theoretical model with vintage …While information technologies (IT) are credited with the recent acceleration in productivity in the United States …