This paper studies the implications of perceived default risk for aggregate output and productivity. Using a model of … credit across firms with heterogeneous productivity. Further, we find that these losses accounted for over half of the … productivity fall between 2008 and 2009, and persisted for smaller (although not larger) firms. …

competition drives less productive firms out the market, thereby increasing average productivity as well as reducing average …

firm-related characteristics (e.g., capital intensity, productivity) contribute significantly. However, considerable wage …

and productivity change; when expenditure on consumer durables is recorded as capital investment. The capitalization of … consumer durables impacts both the levels and growth rates of the capital stock, productivity and GDP. Our growth accounting … productivity growth in 1995-2004. ICT's impacts were larger, i.e., one-fifth of GVA growth and one-sixth of labour productivity …

prices with respect to the euro area productivity growth and increased trade openness. Productivity growth can have a … productivity growth a positive one on price level convergence with respect to the euro area …