while taking prices parametrically. This result justifies TFP as the right summary measure of welfare (even in situations … (industries or firms) to aggregate welfare using readily available TFP data. Based on this finding, we compute firm and industry …

We study how workers' wages respond to TFP-driven innovations in firms' labor productivity. Using unique data with … of physical (as opposed to revenue) TFP to instrument labor productivity in the wage equations. We find that the reaction …-level) shocks, a result which crucially hinges on the use of physical TFP as an instrument. These results are all robust to a number …

Productivity (TFP) than incumbents. Increased competition from new entrants leads incumbents to reduce the price of union …. Those with higher TFP have higher survival probabilities. However, increased competition does not induce incumbents to raise … their TFP. These findings are consistent with a market in which incumbents learn about market conditions but face high …

evolution of the total factor productivity (TFP) and to composition effects. By combining the information at the firm level on … agreement at the firm level and access to external markets are positively related to TFP performance during the whole period. In … addition, we estimate that firm TFP was negatively correlated with the share of temporary workers during the expansion period …