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 …

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

by a shock that does not affect productivity in the short run -- and therefore does not look like a standard technology … shock -- but affects productivity with substantial delay -- and therefore does not look like a monetary shock. One … precede productivity growth by a few years. Moreover, we show that this shock explains about 50\% of business cycle …

bubbles tend to appear and expand in countries where productivity is low relative to the rest of the world. These bubbles … productivity countries. Through this channel, bubbles act as substitute for international capital flows, improving the …

rewards of a given level of production between workers and shareholders. Productivity shocks play a small role in historical …