.e., private investment and productivity growth. We mostly focus on a panel of 20 OECD economies from 1970 to 2009, although we … affects both aggregate investment spending and productivity growth, through distortions related to the size of the public …

response of investment to continued demand weakness, leading in turn to a deterioration in potential output via a hysteresis … government investment as a share of GDP has further exacerbated post-crisis weakness in capital stock growth, both directly and … probably indirectly via adverse spillover effects on business investment. Finally, at a time when the use of conventional macro …

sunk in zombie firms is associated with lower investment and employment growth of the typical non-zombie firm and less … investment and multi-factor productivity growth …

capital stock since the financial crisis can be explained by an accelerator response of investment to continued demand …. In many OECD countries, declining government investment as a share of GDP has further exacerbated post-crisis weakness in … capital stock growth, both directly and probably indirectly via adverse spillover effects on business investment. Finally …