This paper studies the implications of perceived default risk for aggregate output and productivity. Using a model of … credit across firms with heterogeneous productivity. Further, we find that these losses accounted for over half of the … productivity fall between 2008 and 2009, and persisted for smaller (although not larger) firms. …

We show that an increase in aggregate uncertainty-measured by stock market volatility-reduces productivity growth more … using productivity growth for 25 industries for 18 advanced economies over the period 1985-2010-mitigates concerns with …

productivity (TFP) growth that range from -0.15 to -0.98 percentage points at their peak negative response. Cross …

We show that an increase in aggregate uncertainty - measured by stock market volatility - reduces productivity growth … uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment … difference-in-difference approach using productivity growth of 25 industries from 18 advanced economies over the period 1985 …

technology may raise economic uncertainty which causes measured productivity to decline. The equilibrium growth distribution is …