In the presence of persistent heterogeneity in capital, debt and total factor productivity, the effects of a financial …, imply large and persistent reductions in aggregate total factor productivity. We find that an unanticipated tightening in … shocks to total factor productivity …

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 …

We analyze how increased access to financing affects firm total factor productivity (TFP) by exploiting a natural …

Aggregate data show a large and decades-long decline in construction sector productivity. This decline in such a large … sector has had a material effect on secular productivity growth for the economy as a whole. Prior work has focused on the … role of potential measurement problems in construction, particularly output deflators in the measurement of productivity …

An important gap in most empirical studies of establishment-level productivity is the limited information about workers …' characteristics and their tasks. Skill-adjusted labor input measures have been shown to be important for aggregate productivity …-access establishment-level productivity dataset created by the BLS-Census Bureau Collaborative Micro-productivity Project. We take a first …

that capital deepening made China's production and exports more capital-intensive, although labor-biased productivity …