Labor productivity is more procyclical in OECD countries with lower employment volatility. To capture this new stylized … our model with variable effort, greater labor market frictions are associated with procyclical labor productivity as well … data. By implication, labor market deregulation has a greater effect on the cyclicality of labor productivity and on the …

-non-tradable framework (T-NT) to evaluate the heterogeneity in labour productivity before and after the great recession. We find that, across … all countries, non-tradables were less relevant for aggregate productivity. The low productivity growth in peripheral EU … in the legal system help to explain the observed productivity growth differentials. …

education expenditures, financed by distorting taxes, enhance the productivity of private education choices. We allow public … variance of total factor productivity shocks. Our results indicate that, in the face of increasing aggregate uncertainty …

drivers of economic growth. In the current EU procedure, total factor productivity (TFP), which is interpreted as a measure of …

taxation be structured to improve productivity, incentivize innovation, and ultimately increase welfare? We study these … their productivity and are subject to collateral constraints. The stationary equilibrium features heterogeneous returns and … misallocation of capital. We show that increasing the wealth tax increases aggregate productivity. The gains result from the "use …

With US economy data we suggest that there exists a causal relationship between negative shocks in capital productivity … and positive shocks in the profit share. We argue that, faced with a capital productivity decrease, the US firm sector … tests that are robust to endogeneity and structural breaks, we show that decreases in capital productivity unidirectionally …