within Japan, we find that the measures of sectoral productivity do not behave in the way suggested by the Balassa … prefectures. Furthermore, the intra-Japan Penn effect is driven essentially by prices of nontradables. The effect is also found … power. -- agglomeration effect ; Penn effect ; sectoral productivity differential ; tradables and non-tradables ; population …

study aims to examine whether the capital injections primarily benefited high-productivity firms or were misallocated to … struggling "zombie" firms. The empirical results suggest that banks, post-injection, increased lending to both high-productivity … non-zombie firms and low-productivity zombie firms. While the former is in line with conventional theories that prioritize …

hypothesis that financial and productivity performance is superior in establishments without worker representation is not … favorable regime for financial performance, although this does not carry over to the labor productivity outcome. On net, however … without formal workplace representation. Greater worker commitment is strongly associated with improved labor productivity …

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 …

This paper studies theoretically and empirically why and how labor policies may reduce productivity and employment in …