This paper builds a theory of the shape of the distribution of total-factor productivity (TFP) across countries. The … data on productivity suggests vast differences across countries, and arguably even has "twin peaks". The theory proposed … here is consistent with vast differences in long-run productivity, and potentially also with a twin-peaks outcome, even …

the real economic effect of buyouts: employment, wages, productivity, and long-run investments. Employment tend to … productivity gains following a buyout, with part of these being shared with worker through higher wages. The evidence is mixed …