measured productivity and distorts the picture of what is happening in the economy. In this paper, we incorporate expensed and … sweat equity in an otherwise standard business cycle model. We use the model to analyze productivity in the United States … understanding the dramatic rise in hours and the modest growth in measured productivity. …

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 …

productivity between 1965 and 1977. Results show that the effect of public capital stock on regional productivity, although limited …