productivity which is common across the consumption-good and the investment-good sector. In light of our results, the common view … the investment-good sector relies on the counterbalancing properties of its transitory sector-specific productivity … productivity decline. The short and long-run implications of productivity dynamics for the consumption, investment and hours worked …

change from that of production factors, with the residual serving as a measure of total factor productivity growth. His … place in the 1950s and 1960s (measurement issues, increasing returns to scale or procyclical productivity). They both have …