macroeconomic outcomes of a hump-shaped life-cycle profile in labour productivity, whilst in the second extension we postulate a …

and explain the conditions under which this leads to over-investment in healthcare. Moreover, we specify the general …

externalities of public education due to the positive effect of higher future labor productivity on their pension benefits. The …

We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …, both the economy's savings rate and its growth rate are endogenous variables whereas in Piketty's theory they are both …

migration and public investment in infrastructure and education. Accumulation and creation of new ideas and technologies as well …

.2% higher today if productivity-enhancing investment intensity had remained at its pre-crisis level …This paper identifies the mechanism through which financial crises exert long-term negative effects on output. Theory … suggests that a shortfall in productivity-enhancing investments temporarily slows technological progress, creating a gap …

aggregate productivity, resource allocation, and industry export activity along both the extensive and intensive margins. Using … productivity and shipping costs using Chilean plant-level data for a set of manufacturing industries. The estimated model is … consistent with the key features of the data regarding productivity, exporting, and importing. We perform a variety of …