technology diffusion within GVCs. We use these results to explain the pronounced post-crisis drop in Total Factor Productivity …

Productivity (TFP) growth in CEE countries. We show that due to their deep integration in GVCs, CEE countries have been exposed to …

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 …

productivity convergence among euro area countries. While no convergence can be found on the aggregate level, selected service … sectors and manufacturing sub-industries indicate evidence of convergence. In a search for factors influencing productivity …

Between 2003 and 2008 productivity patterns diverged between the fast growing, newest members of the European Union and …, with productivity in Southern Europe going into reverse. This paper analyzes which factors - whether countrylevel or firm … which are part of international groups realize more productivity gains than larger domestic competitors. Among the more …

countries and manufacturing industries over the period 2006-2012. In summary, patterns of measured revenue productivity have …-stressed countries (Belgium, Finland, France and Germany). In particular, measured revenue productivity drops for both groups by about 6 … productivity was accompanied by a substantial dip in the proxy we use for TFP in quantity terms, as well as by a strong reduction …

This paper studies the implications of perceived default risk for aggregate output and productivity. Using a model of … credit across firms with heterogeneous productivity. Further, we find that these losses accounted for over half of the … productivity fall between 2008 and 2009, and persisted for smaller (although not larger) firms. …

We provide evidence that a weak banking sector has contributed to low productivity growth following the European … natural experiment to study the effects of reduced bank capital adequacy on productivity. Affected banks respond not only by … the resulting increase in factor misallocation accounts for 20% of the decline in productivity in Portugal in 2012. …