Traditionally, shocks to total factor productivity (TFP) are considered exogenous and the employment response depends … reductions in TFP growth. These results have important policy implications, including that low productivity growth in some …

The paper investigates how changes in industries'' funding costs affect total factor productivity (TFP) growth. Based …

Slow productivity growth has plagued the euro area since the mid-1990s. That is particularly striking in view of the … large productivity gains in the United States during the same period. This paper shows that the deceleration in labor … productivity in the euro area was caused by structural changes in wage formation that have affected the relative price of labor …

The paper investigates how changes in industries'' funding costs affect total factor productivity (TFP) growth. Based … distort the allocation of factors across firms even within an industry, reducing its TFP. The decline in productivity growth …