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Working Paper
Vanishing procyclicality of productivity?: industry evidence
The robust performance of U.S. labor productivity (LP) early in the recovery from the Great Recession contrasts markedly with the sluggish growth of output, and even more with the lack of recovery in employment. This pattern has renewed interest in understanding why productivity has become much less procyclical in recent decades. This is an important topic because the cyclicality of productivity has implications for how we model business cycles, and our understanding of how they are propagated. The topic also has implications for monetary policy because it affects the trend-cycle ...
Working Paper
Productivity and export market participation: evidence from Colombia
Using evidence from Colombia, the authors study the relationship between firms' productivity and their export market participation decisions. Understanding the link between these two variables is critical for the study and design of policies aimed at achieving high and sustainable economic growth in the long run.
Working Paper
Heterogeneous exporters: quantitative differences and qualitative similarities
We combine two detailed datasets on Colombian manufacturing firms and document several stylized facts on exporter heterogeneity of total factor productivity (TFP) and export-market orientation, refining some previously known facts and unveiling some new others. We first show that the exporter productivity premium is remarkably robust across the methodologies used to recover TFP. We then document that the most productive exporters are those that export (1) a higher share of their total production, (2) to a larger number of countries, (3) to destinations less frequently reached by other ...