Productivity and the Welfare of Nations
NBER Working Paper No. 17971
---- Acknowledgements -----
This paper builds on Basu, Pascali, Schiantarelli, Serven (2009). We are grateful to Mikhail Dmitriev, John Fernald, Gita Gopinath and Chad Jones for very useful suggestions and to Jose Bosca for sharing with us his tax data. We would also like to thank seminar participants at Bocconi University, the Federal Reserve Bank of Richmond and Clark University for their comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.