identification procedure, we show that the dominant shock driving total factor productivity (TFP) is akin to a diffusion or news … shock and that shock transmission has changed over time. Specifically, the behavior of hours worked is notably different … shock propagation. …

Despite massive digitization efforts, the German economy has experienced a marked slowdown in its productivity growth … that commenced around 2005. The successful integration of five million predominantly low-productivity workers into the … labor market induced an attenuating effect on productivity growth. This does not explain the slowdown entirely, however. As …

adjustmentvery well. Although inputs adjust slowly, production responds quickly to the demand shock andthis adjustment is explained …

technology shocks. It is found that hours worked increase on impact in response to a technology shock (though the effect dies …

question in the context of a heterogeneous-firm RBC model with persistent firm-level productivity shocks and lumpy capital …

their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends … equilibrium, general-equilibrium effects overturn this result: a monetary expansion increases the investment of high-productivity … firms relatively more than that of low-productivity ones, crowding out the latter and increasing TFP. We provide empirical …

We revisit UK's poor productivity performance since the Great Recession by means of both a suitable theoretical … over time, and distinguish between quantity total factor productivity (TFP-Q), i.e., the capacity to turn inputs into more … physical output (number of shirts, liters of beer), and what we call revenue total factor productivity (TFP-R), i …