, highlight instead the importance of total factor productivity surge induced by an undervaluation in increasing growth. …

across countries and sectors. On the other hand, opening to trade boosts individual firms’ productivity growth, via a number … of channels, and also enhances allocative efficiency across firms, in turn increasing aggregate productivity growth. One …

to the stock-flow approach and augmenting the monetary model with share prices and the country risk premium improves … commodity prices do not help explain the large depreciations. While these models do a reasonably good job in-sample, their out …