Multifactor productivity growth (based on labour, energy, and materials) and labour productivity growth in the Japanese and US manufacturing sectors are measured and analysed for the period 1958-78. Presentation of separability and technical change hypothesis tests, model estimates and...

We examine the relationship between leverage and the weighted-average cost of capital (WACC) for U.S. banks. Ignoring tax effects, leverage appears to have virtually no impact on the WACCs of too-big-to-fail banks. We find significant differences in this relationship across different...

This chapter presents the major results of a comparative study of productivity growth in manufacturing in Japan and the United States conducted by the authors at the Bureau of Labor Statistics. Japan was chosen for the comparison because the growth of productivity there has been extraordinary...