This paper examines the impact of the operations of foreign-owned multinational firms on the productivity growth of …-owned firms affects the productivity of local firms in that sector and whether there is any evidence of convergence between that … industry's productivity level and that of the United States. The main results can be summarized as follows: First, productivity …

The age structure of capital plays an important role in the measurement of productivity. It has been argued that the … productivity measurement. A proposition proves that Nelson's (1964) formula is wrong. Our final proposition shows that inclusion of … the vintage effect prompts an upward correction of measured productivity growth in times of an aging stock of capital …

is positively related to industry productivity growth. The effects are very modest -- adding at most 0.07 percentage … points to annual labor productivity growth …