productivity. We show that long-run growth estimates based on filtering U.S. productivity data comove strongly with long …-horizon survey expectations. By simulating the model in which agents filter data on U.S. productivity growth, we closely match the U …

productivity. We show that long-run growth estimates based on filtering U.S. productivity data comove strongly with long …-horizon survey expectations. By simulating the model in which agents filter data on U.S. productivity growth, we closely match the U …

filtered from observed productivity. In line with the intertemporal approach to the current account, a major part of the …

In our dynamic optimizing sticky price model, agents are heterogeneous with regard to their age and their productivity …. We find that the business cycle dynamics in the OLG model in response to both a technology shock and a monetary shock are … hours in the OLG model decrease in response to a positive technological shock, since for young workers the income effect …

in aggregate demand, unemployment rate, real wage and labour productivity, which captures key components of the labour … model to identify four structural innovations: aggregate demand, labour supply, wage bargaining, and productivity; (iii …) quantifies the dynamic responses of the labour share to each structural shock; (iv) compares these results across the two periods …