periodically impacting aggregate productivity and, as a consequence, GDP growth. …

variance of its components, which is then applied to measure the relative contributions of productivity, hours per worker, and … employment to cyclical output growth across a panel of countries. Measured productivity contributes more to the cycle in Europe …

efficiency improvements induced by increases in competition cause dramatic changes in total factor productivity. The paper shows …. Total factor productivity fell by 11 per cent in 1990 but had increased to 17 per cent above the 1989 level by 1993. As the …

theory, we suggest a more general approach, such that workers have unrestricted access to a proportional share of the capital … productivity shocks, using capital-labor trade-off. The model generates higher volatilities of key variables and therefore enhances … the performance of the matching model to generate stylized facts in response to an aggregate productivity shock. However …