Procyclical productivity plays an important role in many models of aggregate fluctuations. However, recent studies … procyclicality of productivity observed in aggregate data may be understated. Using plant-level microdata, this paper finds that the … component in aggregate productivity. This paper shows that such composition changes may cause a downward bias in industry …

is explained more by a decline in productivity rather than a lack of investment. Second, tourism has been a significant … contributor to higher growth (through both capital accumulation and productivity) and lower output volatility, and in many … are islands have limited growth. Policies aimed at improving productivity, further development of the tourism sector, and …

potential growth, largely reflecting a decline of total factor productivity (TFP) growth; (ii) by contrast, trend growth for the …

This paper examines the role for tax policies in productivity-shock driven economies with \catching …