Choi, Sangyup; Furceri, Davide; Huang, Yi; Loungani, Prakash - 2017
uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment …We show that an increase in aggregate uncertainty - measured by stock market volatility - reduces productivity growth … difference-in-difference approach using productivity growth of 25 industries from 18 advanced economies over the period 1985 …