We develop and estimate a new model of endogenous growth in bank efficiency and firm productivity in which banks adopt …-good-producing entrepreneurs. In this framework, bank efficiency influences firm productivity by affecting agents' occupational choices, while firm … productivity affects bank efficiency through the relative price of capital goods. We find that increasing technology adoption in …

improvements in long-run productivity and living standards, an effect we estimate to be quantitatively important. Once the …

How do regional productivity shocks or transportation infrastructure improvements affect aggregate welfare? In a …

&D funding and private-sector productivity growth, and large implied social returns to public R&D investment. We show that these … in U.S. productivity within a few years, reaching gains of 0.2-0.4% after seven years or more. At their peak, the direct … productivity effects of the implied expansion in nondefense R&D alone would raise output by over $40 billion in a single year …

paper, we build on Hsieh et al. (2019) to provide a methodology to quantify these productivity consequences. The index we … propose, the "Global Gender Distortions Index (GGDI)", measures the losses in aggregate productivity that gender … distortions account for most of the productivity losses …

combination of productivity growth (Balassa-Samuelson effects) and labor market distortions help explain real exchange rate trends …

towards high step size firms but not high process efficiency firms. We then use price and productivity data across firms in …

adoption of a scalable technology and learning-by-doing. Top firm turnover is matched by standard idiosyncratic productivity …

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