We construct a theoretical model for equilibrium distribution of workers across sectors with different labor productivity, assuming that a sector can accommodate a limited number of workers which depends only on its productivity. A general formula for such distribution of productivity is...

Technological progress, especially product innovation, plays an important role in generating economic growth under the conditions of low fertility and an aging population. Technological progress is typically measured by total factor productivity (TFP) and much research is done internationally....

Micro price data show that individual price settings are not time-invariant as presumed in the existing literature. Furthermore, the analysis of autocorrelations shows that interactions of micro prices with leads and lags ignored in the literature play a very important role in explaining the...

We shed light on the current status of small- and medium-sized (SMS) firms in Japan by studying their distribution of labor productivity on the basis of exhaustive financial data on one million firms. In fact, the labor productivity shows significant variance in disagreement with the prediction...