values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …

productivity growth at the aggregate and firm level during the post-war period. Growth is driven by the development of both (i … variance of aggregate productivity growth is determined mainly by the arrival rate of general innovations. Ceteris paribus, the … increase in firm-level volatility, and a decline in aggregate volatility. The effect on productivity growth is ambiguous. On …

We develop a monopolistically competitive model of trade with firm heterogeneity - in terms of productivity differences … productivity of competing firms. We analyze how these features vary across markets of different size that are not perfectly … in that market. Aggregate productivity and average markups thus respond to both the size of a market and the extent of …

This paper aims to examine the productivity change of the Japanese economy using the data pertaining to the 47 … prefectures during the period 1981-2000. The decomposition analysis of the Hicks-Moorsteen-Bjurek productivity index is conducted … to explore the sources of the productivity change. In summary, technical change and efficiency change are two of the most …

This paper analyzes the welfare implications of international spillovers related to productivity gains, changes in …-equilibrium model with monopolistic competition, drawing a distinction between productivity gains that enhance manufacturing efficiency …

portfolios and asset prices. When the constraints do not bind, productivity shocks cause standard real-business-cycle effects …

, including persistently high but declining rates of labor and total-factor productivity growth, a U-shaped response of the …

Melitz (2003) demonstrates that greater trade openness raises industry productivity via a selection effect and via a … static and dynamic efficiency gains. That is, although freer trade improves industry productivity in a level sense, it harms … endogenises the growth rate of industry productivity and we show that liberalisation slows growth …