productivity growth. …

productivity growth …

-1990. An empirical framework is used in which innovation and technology transfer provide two potential sources of productivity … productivity sector catch up quickly if they invest heavily in R&D. Findings provide evidence of R&D effects on both the rates of … of R&D and human capital is higher in countries that have lower levels of relative total factor productivity (TFP) and …

This paper studies the implications of perceived default risk for aggregate output and productivity. Using a model of …-level probabilities of default which can be applied using data on firm-level employment and default risk. We obtain direct estimates of … firms per year. As expected, we find a strong correlation between default risk and a firm's future performance. We estimate …