how this leads to an underestimation of productivity growth in the early years of a new GPT, and how later, when the … benefits of intangible investments are harvested, productivity growth will be overestimated. Our model generates a Productivity … J-Curve that can explain the productivity slowdowns often accompanying the advent of GPTs, as well as the increase in …

not with higher productivity or profitability. The evidence suggests that intangible investment is associated with growth … investment and firm performance. We find that firm size and moderate competition is associated with higher intangible investment …, while firm age is associated with lower intangible investment. Examining firm performance, we find that higher investment is …

, 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 …

Investment in a broad array of intangible capital - R&D, organizational capital, worker training, and brand equity … much intangible investment has taken place there over the last two decades. The importance of this capital as a driver of …

We examine the role of the ICT revolution in driving productivity growth behavior for the United States and an …. Using industry-level data from EU KLEMS, we find that most of the 1995-2005 U.S. productivity growth revival was driven by …-2005 growth slowdown due to a paucity of ICT investment, a failure to capture the efficiency benefits of ICT, and performance …

Starting in the early 1990s, countries in southern Europe experienced low productivity growth alongside declining real … productivity losses from capital misallocation over time. We develop a model with size-dependent financial frictions that is … factor productivity as capital inflows are misallocated toward firms that have higher net worth but are not necessarily more …

This paper analyzes the role productivity growth had on disinflation in Chile during the 1990s. It argues that … productivity growth was key in avoiding the output costs of stabilization in a highly indexed economy. Disinflation from the early … performance, which combined simultaneously very high rates of growth and declining inflation, productivity stands high. The …

This paper examines trends in the aggregate productivity of the pharmaceutical sector over the past three decades. We … incorporate Ricardo's insight about demand-driven productivity in settings of variable scarce resources, and estimate the industry … decline in the marginal productivity of industry investments that might suggest significant supply-side frictions. While we …