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Differences in Quarterly Utilization-Adjusted TFP by Vintage, with an Application to News Shocks

Sims, Eric R. - 2016

This paper documents large differences across vintages in the properties of the widely-used quarterly utilization-adjusted TFP series produced by Fernald (2014), who provides updated data each quarter on his website. The most recent vintage of the adjusted TFP series has correlations with...

Persistent link: https://www.econbiz.de/10012456521

Productivity and Misallocation in General Equilibrium

Baqaee, David Rezza - 2017

impact of a shock can be boiled down into two components: its "pure" technology effect; and its effect on allocative …

Persistent link: https://www.econbiz.de/10012453706

Firm Entry and Exit and Aggregate Growth

Asturias, Jose - 2017

Using data from Chile and Korea, we find that a larger fraction of aggregate productivity growth is due to firm entry and exit during fast-growth episodes compared to slow-growth episodes. Studies of other countries confirm this empirical relationship. We develop a model of endogenous firm entry...

Persistent link: https://www.econbiz.de/10012455479

Productivity Shocks, Long-Term Contracts and Earnings Dynamics

Balke, Neele - 2020

This paper examines how employer- and worker-specific productivity shocks transmit to earnings and employment in an economy with search frictions and firm commitment. We develop an equilibrium search model with worker and firm shocks and characterize the optimal contract offered by competing...

Persistent link: https://www.econbiz.de/10012482279

ICT, R&D and Organizational Innovation : Exploring Complementarities in Investment and Production

Mohnen, Pierre A. - 2018

, and the effects of different investment profiles on total factor productivity growth on Dutch firm-level data. We estimate … an integrated model of investment profile adoption and total factor productivity growth. We find that the three … investment decisions are complementary, in the sense that investing in one increases the probability of investing in another one …

Persistent link: https://www.econbiz.de/10012480697

Slow Recoveries

Bergoeing, Raphael - 2004

Economies respond differently to aggregate shocks that reduce output. While some countries rapidly recover their pre-crisis trend, others stagnate. Recent studies provide empirical support for a link between aggregate growth and plant dynamics through its effect on productivity: the entry and...

Persistent link: https://www.econbiz.de/10012468109

Regulation and Investment

Alesina, Alberto - 2003

product market, concerning in particular entry barriers, are negatively related to investment. The implications of our … analysis are clear: regulatory reforms, especially those that liberalize entry, are very likely to spur investment …

Persistent link: https://www.econbiz.de/10012469140

Investment-less Growth : An Empirical Investigation

Gutiérrez, Germán - 2016

We analyze private fixed investment in the U.S. over the past 30 years. We show that investment is weak relative to … two broad categories of explanations: theories that predict low investment because of low Q, and theories that predict low … investment despite high Q. We argue that the data does not support the first category, and we focus on the second one. We use …

Persistent link: https://www.econbiz.de/10012455783

Uncertainty, Long-Run, and Monetary Policy Risks in a Two-Country Macro Model

Berg, Kimberly A. - 2020

We study international currency risk in a two-country dynamic stochastic general equilibrium model under incomplete markets. The underlying sources of risk are direct shocks to productivity growth, shocks to a long-run risk component of productivity growth, shocks to a stochastic volatility...

Persistent link: https://www.econbiz.de/10012481147

Endogenous Technology Adoption and R&D as Sources of Business Cycle Persistence

Anzoategui, Diego - 2016

We examine the hypothesis that the slowdown in productivity following the Great Recession was in significant part an endogenous response to the contraction in demand that induced the downturn. We first present some panel data evidence that technology diffusion is highly cyclical. We then develop...

Persistent link: https://www.econbiz.de/10012456668