We revisit the time-honored link between productivity and the real exchange rate. Consistent with the traditional view …, we find that higher labor productivity tends to lead to appreciation of the real exchange rate. Contrary to the … traditional view, however, we find that the positive productivity effect is transmitted through the real exchange rate based on …

to scale. Total factor productivity growth, estimated as an unobservable variable, has declined steadily since the late …

applies it to Japan. Using firm-level financial statement data, it estimates total factor productivity (TFP) of individual … Japanese firms. Given the estimated distribution of productivity across firms, the paper simulates the effect of optimal …

(FDI) between 1987 and 1996. In contrast to earlier work, our results suggest that FDI leads to substantial productivity … productivity growth in U.S. firms between 1987 and 1996. In addition, there is some evidence for import-related spillovers, but it …

productivity. Empirical results reported in this paper confirm this expectation: in low-income countries, factor productivity is … from a reduction in unsustainable fiscal deficits because of governance-related factor productivity responses that increase …

Slow productivity growth has plagued the euro area since the mid-1990s. That is particularly striking in view of the … large productivity gains in the United States during the same period. This paper shows that the deceleration in labor … productivity in the euro area was caused by structural changes in wage formation that have affected the relative price of labor …

productivity in the manufacturing sector, focusing on the interaction between this policy shock and firm and environment … productivity. Specifically, reductions in trade protectionism lead to higher levels and growth of firm productivity, with this … climate, and financial development, do not appear to influence the effect of trade liberalization on firm productivity …

measures differences in labor productivity (the Ricardian measure), and the other differences in total factor productivity (the …