rates of total factor productivity in distinct consumption- and investment-goods- producing technologies. This model … attributes most of the productivity slowdown of the 1970s to the consumption-goods sector; it suggests that a slowdown in the …

but not by financial reforms or productivity gains. …

as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital …

forecast-error variance share of labor productivity at long horizons. In this paper, we propose a variant of the Max Share … identification, which focuses on maximizing the variance share of labor productivity in the frequency domain. We consider the … shock increases productivity, output, and hours at business-cycle frequencies. The technology shock that maximizes …

In this paper, we find that expected (news) and unexpected (contemporaneous) components of productivity changes have … factor productivity (TFP) into news and contemporaneous productivity changes. The US real exchange rate appreciates following … international transmission of productivity shocks and the modeling of exchange rate volatility. …

Standard real business cycle models must rely on total factor productivity (TFP) shocks to explain the observed …

Measured productivity is strongly procyclical. Real business cycle theories suggest that actual fluctuations in … productivity are the source of fluctuations in aggregate output. Keynesian theories maintain that fluctuations in aggregate output … to explain the procyclicality of productivity. If observed productivity shocks are true productivity shocks, a function …