distribution) when inequality is high. We argue that the latter finding corresponds to a system of political capitalism or captured …

extension of our approach to multivariate diffusions, in which one can permit innovations to productivity to be transmitted …

factor productivity, and climate sensitivity. It estimates the pdfs of key output variables, including CO2 concentrations …

Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the … real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample … argue that changes in trade costs over time may affect the impact of productivity on the real exchange rate over time. We …

into their direct (endowment accumulation, productivity growth, changes in trade costs, changing preferences) and indirect … productivity growth, and endogenous changes in expenditures shares on manufacturing goods and services. We quantify the importance … accumulation and trade costs have been the most important drivers of trade in the sample at hand, whereas productivity growth and …

resuscitate HOV by introducing a simple Hicks-neutral (HN) factor-productivity adjustment, an approach that was heavily criticized …. In this paper, we re-examine the productivity question by estimating factor-specific productivities from the individual …-augmenting technological differences. In particular, the factor-productivity adjustment works well for developed members of the OECD. Further …

fiscal policy, government effectiveness and productivity. Here, their dataset is extended in a number of ways: the number of … countries included is increased from 85 to up to 116, and more recent data for both government effectiveness and productivity …

transfers over this period is taken into account. We show that the increase in capital's share of total income and the presence … of capital-entrepreneurial skill complementarity are two key features that help support the wages of ordinary workers as …

public consumption as well as total factor and capital equipment productivity. Our main finding is that an empirically … cycle model with state contingent debt, capital-skill complementarity, endogenous skill formation and stochastic shocks to …