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productivity in the aftermath of recessions. Our method allows us to distinguish between frontier technology and (in …The relationship between recessions and productivity has been the focus of an important body of theoretical and …-)efficiency effects of recessions. We present international evidence for a panel of 70 countries for the 1960-2000 period. Our results …
Persistent link: https://www.econbiz.de/10010277823
This paper analyzes the long-run relationship between output collapses-defined defined as GDP falling substantially below trend - and total factor productivity (TFP), using a panel of 71 developed and developing countries during the period 1960-2003 to identify episodes of output collapse and...
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The slow recovery following the 2008/2009 recession has led to renewed interest in the question whether deep recessions … to large recessions. The test has more power than conventional unit root tests. We find that positive and negative shocks …
Persistent link: https://www.econbiz.de/10010340611
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Japan has suffered from sluggish economic growth and recession since the early 1990s. In this paper, we analyze the causes of the prolonged slowdown of the Japanese economy (the lost decade). Economics Nobel laureate Paul Krugman has argued that Japan's lost decade is an example of a liquidity...
Persistent link: https://www.econbiz.de/10011407566
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