models featuring Epstein-Zin preferences and affine dynamics for productivity growth and volatility. The method relies on log …

This paper employs newly constructed measures for productivity differentials, external imbalances, and commodity terms …-based real exchange rate and commodity terms of trade. The estimated impact of productivity growth differentials between traded …

productivity and monetary policy. We identify a condition under which these asset prices become more volatile without affecting the … to productivity shocks. The model we set up does well at matching second moments of exchange rate and equity returns for …

measures differences in labor productivity (the Ricardian measure), and the other differences in total factor productivity (the …

developing countries. The paper finds that the traded-nontraded productivity differential is a significant determinant of the …

growth suggests Balassa-Samuelson factors at play. However, after 1990, the tradable-nontradable labor productivity gap, the …

-related income, productivity and net foreign assets, but, at odds with the conventional wisdom, depreciates with higher government …

This paper provides empirical evidence on the response of labor productivity to the arrival of new inventions. The … analysis shows that labor productivity may temporarily fall below trend after technological progress. However, the effects on … productivity differ between the pre- and post-World War II periods. The pre-war period shows evidence of a productivity slowdown as …

characteristics. The results suggest that institutional differences are important determinants of total factor productivity and that …