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on nominal wage rigidities at the firm level. I trace out the long-run investment and growth trajectories of firms which … investment gap for two years following the shock, resulting in a persistent accumulated growth gap. I show that affected firms … with a higher degree of wage rigidity exhibit a steeper drop in investment and grow more slowly than affected firms with …
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volume, but also the com- position of firm investment, by disproportionally decreasing investments in innovation. This …&D spending in total investment, suggesting a shift in the composition of investment that is specific to recessions following …
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We investigate asset returns around banking crises in 44 advanced and emerging economies from 1960 to 2018. In contrast to the view that buying assets during banking crises is a profitable long-run strategy, we find returns of equity and other asset classes generally underperform after banking...
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This paper analyzes the channels through which financial crises exert long-term negative effects on output. Recent models suggest that a shortfall in productivity-enhancing investments temporarily slows technological progress, creating a gap between pre-crisis trend and actual GDP. This...
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volume, but also the composition of firm investment, by disproportionally decreasing investments in innovation. This …&D spending in total investment, suggesting a shift in the composition of investment that is specific to recessions following …
Persistent link: https://www.econbiz.de/10012969578