The growth rate of total factor productivity seems to have increased recently, at least in the United States. Higher US … productivity growth may justify higher stock market valuations than in the past and thus herald an emerging New Economy. However …, the size of the estimated growth rate of total factor productivity depends on an assumption about the factor …

The sharp increase in equity prices over the 1990s was widely attributed to permanently higher productivity growth …, which shows that under plausible assumptions, productivity advances can only have temporary effects on the fundamentals of … equity prices. Using historical data on productivity of R&D capital, patent capital and fixed capital for 11 OECD countries …

investigate different identification schemes for bi-variate systems comprising U.S. stock prices and total factor productivity …. The former variable is viewed as reflecting expectations of economic agents about future productivity. It is found that … used for total factor productivity. …

model with adaptive expectations about future productivity growth can reproduce the aggregate land price. However, even with …

We explore the implications of shocks to expected future productivity in a setting with limited enforcement of … response to positive news about future productivity, as well as the other properties of an expectation driven business cycle …