U.S. agriculture was transformed during the 20th century by waves of innovation with mechanical, biological, chemical …, and information technologies. Compared with a few decades ago, today’s agriculture is much less labor intensive and farms … innovation will be required to preserve past productivity gains in the face of climate change, coevolving pests and diseases, and …

The paper begins with presentation of a methodology for computing rental costs of capital under any tax regime.Tax law … inflation on interest rates and the allocation of real capital. The model allocates a fixed private capital stock among various … classes of nonresidential and residential capital, depending upon the rental costs for the capital components, the price …

cost.Second, even in the absence of fiscal costs, public debt reduces capital accumulation, and may therefore have welfare …-adjusted rate of return to capital. If it is lower than the growth rate, it indicates that the risk-adjusted rate of return to … capital is in fact low. The average risky rate however also plays a role. I show how both the average risky rate and the …

total factor productivity (TFP) and static measures of capital misallocation within a country. Using data on 5 … between productivity volatility and the dispersion of the marginal revenue product of capital (static capital misallocation … time-series volatility of productivity are also characterized by greater cross-sectional dispersion in productivity …

We use the World Bank Investment Climate Surveys data to analyze the employment of both labor and capital in Indian … relationship to both (i) institutional constraints, and (ii) productivity …

choices are affected by such frictions face higher borrowing costs than firms with ready access to capital markets. As a … productivity (TFP). In our framework, the correlation between firm size and borrowing costs has no bearing on TFP losses under the …

long-run effect on the interest rate, the capital-labor ratio, and labor productivity, while it increases work hours due to … certain conditions, also to a lower capital-labor ratio, lower productivity and lower wages …

, and lower aggregate productivity growth. This strategic effect of lower interest rates on market concentration implies … that aggregate productivity growth declines as the interest rate approaches zero. The framework is relevant for anti … productivity growth as interest rates in the economy have fallen to extremely low levels …

assess the empirical performance of Ricardo's ideas. We use novel agricultural data that describe the productivity in 17 … the productivity of each parcel of land in all crops, not just those that are currently being grown. This direct … information about relative productivity differences across economic activities allows us to compute, for the first time, the …