our benchmark assumption that industry prices are independent of productivity. When we allow for the endogeneity of …

prices and total factor productivity (TFP) with the aim of highlighting data patterns that are useful for evaluating business … run movements in total factor productivity and (ii) such stock prices innovations do not affect U.S. sectoral TFPs …

wages and productivity across establishments. The second is that the increased dispersion in wages and productivity across … productivity dispersion have increased substantially over the last few decades, and (4) a substantial fraction of the rising … dispersion in wages and productivity is accounted for by increasing wage and productivity differentials across high and low …

also affects the real wage of other workers. Counteracting these forces, automation creates a positive productivity effect …, pushing up the price of all factors. Because capital adjusts to keep the interest rate constant, the productivity effect …

We test the hypothesis that greater stock price informativeness (SPI) leads to higher firm-level productivity (TFP …

, we examine how the productivity of these firms is influenced by their internal wage dispersion. To do so, we use a large … dispersion has a positive and significant effect on firm productivity. This result is robust to controls for individual and firm …