We investigate how the deterioration of household balance sheets affects worker productivity, and whether such effects …

-open-economy real-business-cycle model driven by nonstationary productivity shocks. We find that the RBC model does a poor job at … business cycles in emerging markets and, importantly, assigns a negligible role to nonstationary productivity shocks …

through its effect on productivity: the entry and exit of firms and the reallocation of resources from less to more efficient … firms explain a relevant part of transitional productivity dynamics. In this paper we use a stochastic general equilibrium …

task allocation across workers changes in response to productivity shocks. Pairing hourly productivity data from a ready …-made garments firm with granular data on exposure to particulate matter pollution, we show that productivity suffers as a result of … resulting productivity declines …

This paper investigates the international transmission of productivity shocks in a sample of five G7 countries. For … each country, using long-run restrictions, we identify shocks that increase permanently domestic labor productivity in … fall when its output grows, thus providing a mechanism to contain differences in national wealth when productivity levels …

productivity takes two values, one of which is zero, and the utility function is logarithmic, we characterize the entire transition …