reduction of entry barriers for start-ups and increasing high-skilled labour would contribute towards raising productivity and … come close to achieving the Lisbon productivity and knowledge-investment targets. Achieving US standards in all three areas … would reduce the productivity gap by about 50 percent. Improving the quality of tertiary education and increasing …

output and total factor productivity (TFP) in the wake of a crisis. Second, we develop a DSGE model with financial frictions …