productivity growth. This paper offers a quantitative study on the link between uncertainty and low productivity growth. Firstly … Recession. Secondly, to investigate the effect of uncertainty on productivity growth dynamics, I present a novel general … productivity growth when accounting for the empirical discrepancy between the realised and expected changes to the second-moment of …

The analysis in this paper shows that unpredictable variations in economic productivity may have a positive or negative …. Empirical studies concerning these two factors indicate that unpredictable variations in economic productivity have a negative …

How does risk or uncertainty in the productivity of research affect the growth rate of the economy? To answer this …&D from profit-maximizing firms. The uncertainty arises from the productivity of these investments in R&D. The main result of … this analysis is that the relationship between long-run growth and uncertainty (on the productivity of knowledge creation …

This paper studies the implications of perceived default risk for aggregate output and productivity. Using a model of … credit across firms with heterogeneous productivity. Further, we find that these losses accounted for over half of the … productivity fall between 2008 and 2009, and persisted for smaller (although not larger) firms. …

An increase in the riskiness of a technology will raise economy-wide expected output: the technology can be used … intensively if its productivity realization is large and curtailed otherwise. Some investment in even the riskiest technologies …

I incorporate the productivity risks into an investment-based q-factor asset pricing model. The productivity risks … parsimonious q-factor model driven by productivity risks explains about 90% variation of return of 25 Size/BM portfolios and 75 …-factor model, and the Hou, Mo, Xue & Zhang (2020) augmented q-factor model. As such, productivity risks significantly affect asset …

suggested by new growth theory, while addressing the variable selection problem by means of Bayesian model averaging …. Controlling for variable selection uncertainty, we confirm the evidence in favor of new growth theory presented in several earlier …