productivity growth slowdown. Motivated by these facts, we provide a model connecting international financial integration and … global productivity growth. The key feature is that the tradable sector is the engine of growth of the economy. Capital flows … cut back investment in innovation. Since innovation in the United States determines the evolution of the world …

labor, which results in lower productivity, investment, and value added. Without a rise in zombie credit, inflation in …

We study the interaction of customer capital and productivity through brand reallocation across firms. We develop a … firm dynamics model with brands as transferable customer capital, heterogeneous firm productivity, and variable markups. We … study the matching process between transferable brand capital and core productivity, which can be inefficient with …