Productivity and misallocation in general equilibrium
This paper develops a general theory of aggregation in inefficient economies. We provide
nonparametric formulas for aggregating microeconomic shocks in economies with …
nonparametric formulas for aggregating microeconomic shocks in economies with …
The causes and costs of misallocation
D Restuccia, R Rogerson - Journal of Economic Perspectives, 2017 - aeaweb.org
Why do living standards differ so much across countries? A consensus in the development
literature is that differences in productivity are a dominant source of these differences. But …
literature is that differences in productivity are a dominant source of these differences. But …
Capital allocation and productivity in South Europe
G Gopinath, Ş Kalemli-Özcan… - … Quarterly Journal of …, 2017 - academic.oup.com
Starting in the early 1990s, countries in southern Europe experienced low productivity
growth alongside declining real interest rates. We use data for manufacturing firms in Spain …
growth alongside declining real interest rates. We use data for manufacturing firms in Spain …
The productivity slowdown in advanced economies: common shocks or common trends?
This paper reviews advanced‐economy productivity developments in recent decades. We
focus primarily on the facts about, and explanations for, the mid‐2000s labor‐productivity …
focus primarily on the facts about, and explanations for, the mid‐2000s labor‐productivity …
The pre-Great Recession slowdown in productivity
In the years since the Great Recession, many observers have highlighted the slow pace of
productivity growth around the world. For the United States and Europe, we highlight that …
productivity growth around the world. For the United States and Europe, we highlight that …
Credit allocation and macroeconomic fluctuations
We study the relationship between credit expansions, macroeconomic fluctuations, and
financial crises using a novel database on the sectoral distribution of private credit for 117 …
financial crises using a novel database on the sectoral distribution of private credit for 117 …
[图书][B] Gone with the headwinds: Global productivity
Productivity growth—the key long-term driver of living standards—fell sharply following the
global financial crisis, adding to structural headwinds already blowing before the crisis, and …
global financial crisis, adding to structural headwinds already blowing before the crisis, and …
ESBies: Safety in the tranches
The euro crisis was fuelled by the diabolic loop between sovereign risk and bank risk,
coupled with cross-border flight-to-safety capital flows. European Safe Bonds (ESBies), a …
coupled with cross-border flight-to-safety capital flows. European Safe Bonds (ESBies), a …
[图书][B] La globalización del capital: historia del sistema monetario internacional
B Eichengreen - 2021 - books.google.com
Lúcido, accesible y provocativo, y ahora completamente actualizado para tratar los
acontecimientos recientes que han sacudido la economía global, La globalización del …
acontecimientos recientes que han sacudido la economía global, La globalización del …
When losses turn into loans: The cost of undercapitalized banks
L Blattner, L Farinha, F Rebelo - 2019 - papers.ssrn.com
We provide evidence that a weak banking sector has contributed to low productivity growth
following the European sovereign debt crisis. An unexpected increase in capital …
following the European sovereign debt crisis. An unexpected increase in capital …