three questions (a) What is the source of knowledge flows? (b) To what extent do such flows contribute to productivity …

What factors underlie industry differences in research intensity and productivity growth? We develop a multisector … growth model using standard parameters to capture the main factors considered in the empirical R&D and productivity growth … literature. Along the balanced growth path, we find that the primary factor behind industry differences in productivity growth is …

measured the contribution of organization capital to the conventional TFP growth. The estimation results implied that the … growth of organization capital did not have significant effects on productivity growth. …

We develop a multi-sector general equilibrium model in which productivity growth is driven by the production of sector …-specific knowledge. In the model, we find that long run differences in total factor productivity growth across sectors are independent of …

Instrumental variables estimation is classically employed to avoid simultaneous equations bias in a stable environment …. Here we use it to improve upon ordinary least squares estimation of cointegrating regressions between nonstationary and …

that the estimated cointegration vectors are asymptotically normal, and our estimation for the cointegration rank is …We propose a new method to determine the cointegration rank in the error correction model of Engle and Granger (1987 …). To this end, we first estimate the cointegration vectors in terms of a residual-based principal component analysis. Then …