factor productivity (TFP) growth in each of the two sectors, and GHK’s concepts of investment specific and neutral …The May 2007 issue of the Journal of Monetary Economics published a paper of mine entitled ‘Investment … technological progress. The same issue of the JME published a response by Greenwood and Krusell (‘Growth Accounting with Investment …

United States or Sweden. Nevertheless the contribution to the long run growth of labour productivity stemming from even the …

Studies of firm-level data have shown that there is a huge dispersion of productivity across firms even when industries … productive. The formers’ convergence could therefore constitute an important part of productivity growth at the macroeconomic … which can explain it. Productivity convergence was stronger for labour productivity than for total factor productivity. But …

evidence that a boom in complementary investment in the 1990s could have led to a decline in the conventional measure of TFP …We use a new industry-level dataset to quantify the role of ICT in explaining productivity growth in the UK, 1970 … productivity growth in the market sector. Econometric evidence also supports an important role for ICT. We also find econometric …

senescence. Therefore the impact of unions on productivity, financial performance and investment is extremely important. This …If the presence of a union in a workplace or firm raises the pay level, unless productivity rises correspondingly … capital to labour with no efficiency effects, but is probably more likely to lead to lower investment rates and economic …

, major weaknesses with respect to long-run investment in human capital, infrastructure and innovation remain. These are …

positive program treatment effect on employment, investment and net entry but not on TFP. OLS underestimates program effects …Business support policies designed to raise productivity and employment are common worldwide, but rigorous micro …,300 suggesting that in some respects investment subsidies can be cost effective. …

This paper explores the role of knowledge flows and TFP growth by using direct survey data on knowledge flows linked to … firm-level TFP growth data. Our knowledge flow data correspond to the kind of information flows often argued, especially by … three questions (a) What is the source of knowledge flows? (b) To what extent do such flows contribute to productivity …