productivity growth, higher markups in product markets, and spending declines resulting from tighter lending standards at financial …

using first-order approximations. In our estimated medium-scale DSGE model, a loss of confidence about productivity works …

The Real Business Cycle (RBC) models a neoclassical system impacted by random changes on Total Factor Productivity (TFP …

.S., such as the productivity slowdown, increased labor force participation by women, and the "new economy" of the 1990s. We …

persistence mechanism in productivity dynamics which drives the model response to shocks. A white noise permanent shock to the … productivity of new entrants causes endogenous exit and subsequent rounds of productivity increases, due to the competitive … persistent dynamics and a large ”multiplier effect” on the initial shock. Neutral productivity shocks affect long-run firms …