Deficits" discussion of the 1980s. In contrast, during the 1990s productivity growth has been identified as the primary cause … importance of budget deficits and productivity shocks for the determination of the current account. Using a sample of 21 OECD … current account, while country-specific productivity shocks appear to play a key role. …

and productivity change; when expenditure on consumer durables is recorded as capital investment. The capitalization of … consumer durables impacts both the levels and growth rates of the capital stock, productivity and GDP. Our growth accounting … productivity growth in 1995-2004. ICT's impacts were larger, i.e., one-fifth of GVA growth and one-sixth of labour productivity …

We reappraise the relationship between productivity and equilibrium real exchange rates using a panel estimation … role of non-traded, as well as traded, sector productivity shocks in exchange rate determination. We find evidence of … significant correlation between real exchange rates and productivity differentials in both sectors. But our finding of a …

persistence typically proceed along two distinct paths, resorting either to the presence of real shocks such as productivity …

This paper investigates prices and endogenous research decision for financial assets. In rational expectations models … this paper extends this setting by incorporating the research cost decision and endogenising the variance of the private … signals that short-lived investors obtain in each period. It turns out that investors will be less willing to research in …

This paper considers productivity developments in the new EU member states and provides evidence on factors driving … productivity growth in these countries, focusing on a panel of Polish manufacturing industries. Companies in Poland seem to benefit …

nearly one third of euro area labour productivity growth. The results point to a significant decline in the contribution of … total factor productivity to euro area growth. …