NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Productivity and the Welfare of Nations

Susanto Basu, Luigi Pascali, Fabio Schiantarelli, Luis Serven

NBER Working Paper No. 17971
Issued in April 2012

---- Acknowledgements -----

We are grateful to Andrew Abel, 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 have also received helpful comments from presentations at Bocconi University, Clark University, the Federal Reserve Bank of Richmond, MIT, Pompeu Fabra University and the NBER Monetary Economics Program Meeting. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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