This paper explores some of the links between macroeconomic policy and industrial strategy. The perspective of the present paper is to emphasize the role of the output and investment activities of enterprises rather than the general focus on the labor market in the determination of economic...

Empirical research on the drivers of multi-factor productivity (MFP) is abundant at the firm- and industry level but surprisingly little research has been conducted on the determinants of MFP at the macroeconomic level. In this paper, we seek to understand the drivers of country-level MFP with a...

Models of imperfect competition contain the possibility of multiple equilibria when the markup of price over marginal cost is negatively dependent on activity. The model most often used in applied work, the Dixit and Stiglitz (1977) model, is usually thought not to be able to produce such an...