This paper assesses the productivity puzzle critically and gives an outlook on the COVID-19 crisis. It offers two main … conclusions. First, it posits that a large fraction of the productivity puzzle can be solved by incorporating intangible capital … into the asset boundary of the national accounts. Thus, the productivity puzzle is largely explained as a consequence of …

a Melitz (2003) type productivity term to differentiate firms by the extent of exposure to the demand shock. The idea is … that the effects of the demand shock should be driven by differences in firm-level productivity from the period before the … initial establishment productivity with employment changes over a long panel from 1995 to 2009. The estimates show that the …

This paper analyzes the effect of firing costs on aggregate productivity growth. For this purpose, a model of … importance of reallocation for productivity growth. In the model, growth is driven by selection among heterogeneous incumbent …