neoclassical growth model. Investment rates and total factor productivity start out low and rise over time. These model dynamics …

largely reflect differences in countries' total factor productivity. We argue that this view has powerful implications for … patterns of capital flows: everything else equal, countries with faster productivity growth should invest more, and attract …

the total in the poorest countries. Second, it has extremely low productivity compared to the formal economy: informal … regulations is an important reason for informality, the productivity of informal firms is too low for them to thrive in the formal …

incomes in the east have now reached the western level, and investment per capita has been much higher than in the west …. However, every third deutschmark spent in the east has been coming from the west, investment in equipment has fallen below the … west German per capita level, and convergence seems to have come to a halt at an overall labor productivity of only 55% of …

investment to productivity shocks that is 50% higher than with capital adjustment frictions, calibrated to the fraction of plants … one type of capital good to save and invest in, fixed capital investment dynamics are tightly linked to consumption … dynamics, which are similar across lumpy and frictionless investment models. With capital goods heterogeneity, households …

aggregate manufacturing productivity on the order of 25% in India and Mexico relative to the U.S …

-cyclical and leads to variations in measured aggregate productivity. Using a simulated method of moments approach, different … reallocation with aggregate productivity …

agricultural yields and low food prices. Critical to this success has been sustained public sector investment combined with a … decentralized and competitive research system in the US. Recent intellectual property reforms motivated increased private investment …

equilibrium model in which there is a continuum of firms subject to idiosyncratic productivity shocks. We find that a dividend tax … cut raises aggregate productivity by reducing the frictions in the reallocation of capital across firms. Our baseline …