How do international labor markets respond to a technology shock and what is the main transmission channel across …

We identify measures of shocks to total factor productivity and preferences from two real business cycle models and … German business cycle. For the period 60.i to 89.iv no variable Granger causes the shock measures, and for the period 70.i to … reunification in 1990 and the European Monetary Union in 1999. We, thus, find no evidence to reject the exogeneity of our shock …

shocks. In a model that is capable of matching asset pricing moments, a short-lived shock that destroys a small fraction of …

We use a Dixit-Stiglitz setting to show that aggregate productivity fluctuations can be generated through changes in … the dispersion of firms’ productivity. When the elasticity of substitution among goods is larger than one, an increase in … the dispersion raises aggregate productivity because firms at the top of the distribution produce most of output. When the …

This paper examines whether domestic and foreign productivity and fiscal policy changes can account for the wide swings … series on total factor productivity, government consumption and average tax rates in the U.S. and in an aggregate of the …, tracks the observed behavior of the U.S. trade balance rather closely, provided permanent country-specific productivity …