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Investment in productivity and the long-run effect of financial crises in output

Ridder, Maarten de - 2016

models suggest that a shortfall in productivity-enhancing investments temporarily slows technological progress, creating a …-level exposure to the 2008-9 financial crisis, I show that tight credit reduced investments in productivity-enhancement, and has … 12% higher today if productivity-enhancing investments had grown at pre-crisis rates. …

Persistent link: https://www.econbiz.de/10011573282

Capital misallocation and secular stagnation

Caggese, Andrea; Pérez, Ander - 2017 - This version: January 17, 2017

finance, firms are credit constrained, and there is substantial dispersion in productivity. In a tangibles-intense economy …

Persistent link: https://www.econbiz.de/10011708126

Debunking the granular origins of aggregate fluctuations : from real business cycles back to Keynes

Dosi, Giovanni; Napoletano, Mauro; Roventini, Andrea; … - 2018

", as proxied by productivity growth shocks - in line with the Real Business Cycle framework -, and we provide empirical …

Persistent link: https://www.econbiz.de/10011873811

Do recessions slow technology growth? : evidence from the firm level

Schmöller, Michaela; Goldfayn-Frank, Olga; Schmidt, Tobias - 2024 - This Version: August 15, 2024

Do recessions harm investment in technology and thus future aggregate supply? We provide novel evidence on this question using unique, granular data on innovation investment in R&D and diffusion from a representative survey of German firms. Our data allows to identify the crisis-induced...

Persistent link: https://www.econbiz.de/10015189728

Globalization, transparency and economic growth : the vulnerability of Chinese firms to macroeconomic shocks

Oxelheim, Lars (contributor) - 2008

The process of globalization encompasses economic and financial integration. The abolition of capital controls and the dismantling of barriers of different kinds will expose previously sheltered companies to shocks on the global economic arena. Policy-makers in already globalized countries have...

Persistent link: https://www.econbiz.de/10003757004

Globalization, Transparency and Economic Growth: The Vulnerability of Chinese Firms to Macroeconomic Shocks

Oxelheim, Lars - 2008

The process of globalization encompasses economic and financial integration. Abolition of capital controls and dismantling of barriers of different kinds are important ingredients of the process that will entirely change the exposure of previously sheltered companies to shocks on the global...

Persistent link: https://www.econbiz.de/10010320377

Effects of productivity growth on domestic savings across countries : disentangling the roles of trend and cycle

Kumar, Abhishek; Mallick, Sushanta Kumar; Sen, Kunal - 2020

continuous time series data, we causally identify, using a range of approaches, that higher productivity growth leads to greater … savings, thereby contributing to higher investment. The dynamics of such productivity shocks have been disentangled into trend … and cyclical shocks to uncover that cyclical productivity shocks tend to have a strong positive effect on saving rates …

Persistent link: https://www.econbiz.de/10012321005

Technology, Growth and the Business Cycle

Imbs, Jean - 2001

The paper uses a partial equilibrium model to simulate times series on inputs utilization rates--capital utilization and labor effort--for 10 OECD countries. The resulting series are filtered from standard measures of the Solow residual. The main findings are as follows: once variable inputs...

Persistent link: https://www.econbiz.de/10014213105

Measuring business cycles : a review

Škare, Marinko; Stjepanović, Saša - In: Contemporary economics 10 (2016) 1, pp. 83-94

This article summarizes the main findings on problems related to the measurement and identification of business cycles. The aim of this study is to define and identify the determinants of business cycles. This paper provides an overview of the methodology and its future course. Our investigation...

Persistent link: https://www.econbiz.de/10011453001

Demographic structure and macroeconomic trends

Aksoy, Yunus; Basso, Henrique S.; Smith, Ron; Grasl, Tobias - 2016

The effect of changes in demographic structure on medium-run trends of key macroeconomic variables is estimated using a Panel VAR of 21 OECD economies. The panel data variability assists the identification of direct effects of demographics, while the dynamic structure uncovers long-term effects....

Persistent link: https://www.econbiz.de/10011457979