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uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment …We show that an increase in aggregate uncertainty - measured by stock market volatility - reduces productivity growth … difference-in-difference approach using productivity growth of 25 industries from 18 advanced economies over the period 1985 …
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Economic policy for the information economy: a summary of the Bank's 2001 economic symposium / Craig S. Hakkio -- Opening remarks / Alan Greenspan -- The "new economy": background, historical perspective, questions, and speculations / J. Bradford DeLong and Lawrence H. Summers. Commentary /...
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