from tradable to non-tradable industries) and between the long-run effects on total investment, its sectoral allocation and …

economies in the 1970's -- the unprecedented rise in raw materials prices, in particular the oil price shock, and the …

oil-price shock and the 9/11 terrorist attack. This paper offers a structural framework to analyze the impact of these … data. The parameterized model is then used to simulate a macro uncertainty shock, which produces a rapid drop and rebound … investment and hiring. Productivity growth also falls because this pause in activity freezes reallocation across units. In the …

shocks have a very persistent effect on real activity. In determining the speed of recovery from an adverse economic shock …, the most important factor is the extent to which the shock erodes entrepreneurial wealth …

incomes in the east have now reached the western level, and investment per capita has been much higher than in the west …. However, every third deutschmark spent in the east has been coming from the west, investment in equipment has fallen below the … west Germany. Excessively high wages coupled with investment incentives that made the cost of capital negative rank high …