productivity, wages and exports spillovers in developing, developed and transitional economies. Although theory can identify a …

values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …

face a fall in output, mark-ups and profits, and the average productivity of survivors increases. These pro …

interactions that increase productivity), possibly reinforced by localised natural advantage. To distinguish between them, we nest … larger cities left-truncates the productivity distribution whereas stronger agglomeration right-shifts and dilates the … cannot explain spatial productivity differences. This result holds across sectors, city size thresholds, establishment …

exchange rate uncertainty. Based on this micro foundation an aggregation approach is presented. Under uncertainty, intervals of … where the aggregation of microeconomic real options effects under uncertainty are relevant, they may even be of a more …

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which observed inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

. In this case, increases in aggregate productivity result in a reduction in welfare. For example, this may occur when …

after separability being imposed. The empirical findings of the exact approach to aggregation are found to be rather …