capital investment has a large impact of productivity gains. His evidence also supports the view that the U.S. productivity …Since 1995, productivity growth has accelerated significantly in the United States. Information technology has always … investments in information technology (IT) in the early 1990s show the largest productivity gains in the late 1990s and that IT …

productivity misalignments across regions. In accordance with the Balassa-Samuelson Hypothesis, such misalignments are positively … correlated in all samples. Aggregate productivity seems to be the driving force at the national level. The adjustment mechanism …

. First, empirically, financial activity is lumpy, more than investment activity. Second, non-convex costs are necessary, in … the context of a dynamic investment and financing model, to rationalize this lumpiness. Two versions of the model, with …, generating financial lumpiness higher than investment lumpiness. Other predictions of the model with respect to investment and …

monetary and other shocks. The theory predicts a positive effect of cash flow on investment, given fundamental determinants of …This paper tests the balance sheet theory, where the status of balance sheets affects the economy´s response to … investment. I use an empirical method developed by Gilchrist and Himmelberg (1995, 1999), which has previously only been used to …

increase in aggregate total factor productivity (TFP). This paper attempts to explain these facts by modeling the creation and … destruction of jobs in the presence of heterogeneity in firm productivity and frictional credit and labor markets. The aggregate … level of TFP is determined by both the underlying distribution of firm productivity and the structures of the credit and …

theory, practice, and policy. Using seven different methods on microenterprise loan applicants, we find striking results …

This paper is a contribution to the small but growing literature that compares the investment and R&D behavior of … of a simple error-corrected investment model for both ordinary investment and for R&D investment, a model that … incorporates both output (sales or turnover) and cash flow as predictors for investment. Our focus is on two comparisons: France …

This paper is a contribution to the small but growing literature that compares the investment and R&D behavior of … of a simple error-corrected investment model for both ordinary investment and for R&D investment, a model that … incorporates both output (sales or turnover) and cash flow as predictors for investment. Our focus is on two comparisons: France …