,tend to rise faster than the prices of material goods. Central to his model is the disparityin labour productivity growth … disease of services retains its explanatory power and relevance today. It refutescriticisms that productivity growth in …

In this paper, we investigate the role of labor productivity growth and whether the determinants of labor productivity …–2005 period. We decompose labor productivity growth into "within sector" productivity improvements, "static structural change …" productivity progress and "dynamic structural change" gains. Moreover, we study sectoral contributions to within sector …

In this paper, we employ a portfolio approach based on a two-country world to study the impact of financial openness on … consumption-wealth ratio, and welfare should be greater in an open economy because of higher productivity and/or less volatility … because of risk sharing. The theoretical results for the growth rate depend on differences in productivity and in consumption …