An establishment can improve its productivity by hiring workers from more productive establishments. Then, how … important is worker reallocation for aggregate productivity growth? To study this question, I develop a general equilibrium … knowledge diffusion mechanism increases the aggregate productivity growth by 0.14 percentage points and enhances welfare …

What factors underlie industry differences in research intensity and productivity growth? We develop a multi … consumer preferences. We find that long run industry differences in both productivity growth and R&D intensity mainly reflect … research cannot account for industry differences in productivity growth rates, and that variation in intertemporal knowledge …