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. …

estimates of the tax_price elasticity of R&D and the effect of R&D on productivity. For the latter we allow R&D to have an … effect on technology transfer (catching up with the technological frontier) as well as innovation (pushing the frontier …

Many writers have claimed that R&D has two 'faces'. In addition to the conventional role of stimulating innovation, R … important in this catch up process as well as stimulating innovation directly. Trade, by contrast, plays a more modest role in … productivity growth. …

-1990. An empirical framework is used in which innovation and technology transfer provide two potential sources of productivity …The two aspects of research and development (R&D) involving the stimulation of innovation and the facilitation of … productivity sector catch up quickly if they invest heavily in R&D. Findings provide evidence of R&D effects on both the rates of …

Many writers have claimed that R&D has two 'faces'. In addition to the conventional role of stimulating innovation, R … important in this catch up process as well as stimulating innovation directly. Trade, by contrast, plays a more modest role in … productivity growth …

productivity. The “Solow Paradox” of the absence of an impact of ICT on productivity no longer holds, if it ever did. Both growth … accounting and econometric evidence suggest an important role for ICTs in accounting for productivity. In fact, the empirical … estimates suggest a much larger impact of ICT on productivity than would be expected from the standard neoclassical model that …