-adjusted total factor productivity series, which we take as a measure of exogenous productivity. In contrast to the predictions of … the model, positive productivity shocks are estimated to be more expansionary at the ZLB compared to normal times. However …, in line with the predictions of the basic model, positive productivity shocks have a stronger negative effect on …

and productivity remain depressed. This is because when limits tighten, low-asset, low-productivity job losers cannot self …

endogenous relation between productivity growth and the state of the economy. A large contractionary shock to equity financing in …

their claim that part of the post-1995 productivity growth revival reflected the normal cyclical correlation between … productivity and output growth. In contrast data through mid-2003 reveal only a negligible cyclical effect for 1995-99 but rather a … temporary bubble in 2002-03. (2) Why did productivity growth accelerate after 2000 when the ICT investment boom was collapsing …

through its effect on productivity: the entry and exit of firms and the reallocation of resources from less to more efficient … firms explain a relevant part of transitional productivity dynamics. In this paper we use a stochastic general equilibrium …

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 …

During the four years 1995-99 U. S. productivity growth experienced a strong revival and achieved growth rates … transport, motion pictures, radio, indoor plumbing, and made the golden age of productivity growth possible. This paper raises … doubts about the validity of this comparison with the Great Inventions of the past. It dissects the recent productivity …

productivity growth, and the exit rate leads all three of these. A vintage capital model in which all technological progress is … operational, both output and productivity increase …

. We construct a new version of Lucas?s (1972) monetary misperceptions model, with a real shock (productivity) and a … to develop a new procedure for identifying the two shocks. The identified productivity shock has a large country …-specific component, and is highly correlated with actual productivity. The identified monetary shock has a large common component, and is …