equilibrium model wherein firms face persistent shocks to aggregate and individual productivity. In our model economy, optimal …,s) firm-level investment policies.In the presence of persistent heterogeneity in capital, debt and total factor productivity … of capital that, in turn, imply large and persistent reductions in aggregate total factor productivity. We find that an …

This paper explores the impact of immigrants on the imports, exports and productivity of service-producing firms in the … productivity of the firm as well as its export behavior. The first effect can be understood as the re-assignment of offshore … productive tasks to immigrant workers. The second can be seen as a productivity or cost cutting effect due to immigration, and …

This paper develops a general test of factor price equalization that is robust to unobserved regional productivity …

This paper explores the role of knowledge flows and productivity growth by linking direct survey data on knowledge …

Firms that export or, even more so, are part of a multinational enterprise tend to exhibit higher productivity than … organization that one of the main drivers of differences in productivity is differences in knowledge. We examine a new data set of …

characteristics such as profit tax rates, lack of institutional quality, financial underdevelopment, and productivity for internal …