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Lower for longer under endogenous technology growth
Elfsbacka Schmöller, Michaela; Spitzer, Martin - 2022
is due to the long-run non-neutrality of money and the hysteresis effects in TFP through which ELB episodes generate … support productivity-improving investment in R&D and technology adoption and hence the long-run trend path, provided that the … with productivity dynamics. As a result, additional stimulus is required at the ELB and the degree of subsequent …
Persistent link: https://www.econbiz.de/10013172492
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Lower for longer under endogenous technology growth
Elfsbacka Schmöller, Michaela; Spitzer, Martin - 2022
. This result is due to the long-run non-neutrality of money and the hysteresis effects in TFP through which ELB episodes … target but also support productivity-improving investment in R&D and technology adoption and hence the long-run trend path … the interaction with productivity dynamics. As a result, additional stimulus is required at the ELB and the degree of …
Persistent link: https://www.econbiz.de/10013191628
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Lower for longer under endogenous technology growth
Schmöller, Michaela; Spitzer, Martin - 2022
is due to the long-run non-neutrality of money and the hysteresis effects in TFP through which ELB episodes generate … support productivity-improving investment in R&D and technology adoption and hence the long-run trend path, provided that the … with productivity dynamics. As a result, additional stimulus is required at the ELB and the degree of subsequent …
Persistent link: https://www.econbiz.de/10014278361
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Lower for Longer Under Endogenous Technology Growth
Elfsbacka Schmöller, Michaela; Spitzer, Martin - 2022
is due to the long-run non-neutrality of money and the hysteresis effects in TFP through which ELB episodes generate … support productivity-improving investment in R&D and technology adoption and hence the long-run trend path, provided that the … with productivity dynamics. As a result, additional stimulus is required at the ELB and the degree of subsequent …
Persistent link: https://www.econbiz.de/10014078328
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Lower for Longer Under Endogenous Technology Growth
Elfsbacka Schmöller, Michaela; Spitzer, Martin - 2022
is due to the long-run non-neutrality of money and the hysteresis effects in TFP through which ELB episodes generate … support productivity-improving investment in R&D and technology adoption and hence the long-run trend path, provided that the … with productivity dynamics. As a result, additional stimulus is required at the ELB and the degree of subsequent …
Persistent link: https://www.econbiz.de/10013294813
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Endogenous technology, scarring and fiscal policy
Schmöller, Michaela - 2022
occur endogenously through hysteresis effects in TFP. Both demand- and supply-driven recessions can weaken investment in R …
Persistent link: https://www.econbiz.de/10013463787
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Endogenous Technology, Scarring and Fiscal Policy
Elfsbacka Schmöller, Michaela - 2023
occur endogenously through hysteresis effects in TFP. Both demand- and supply-driven recessions can weaken investment in R …
Persistent link: https://www.econbiz.de/10014261830
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The Business Cycle Implications of Reciprocity in Labor Relations
Danthine, Jean-Pierre - 2009
We develop a reciprocity-based model of wage determination and incorporate it into a modern dynamic general equilibrium framework. We estimate the model and find that, among potential determinants of wage policy, rent-sharing (between workers and firms) and a measure of wage entitlement are...
Persistent link: https://www.econbiz.de/10012721014
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Localized and Biased Technologies : Atrkinson and Stiglitz's New View, Induced Innovations, and Directed Technological Change
Acemoglu, Daron - 2015
This paper revisits the important ideas proposed by Atkinson and Stiglitz's seminal 1969 paper on technological change. After linking these ideas to the induced innovation literature of the 1960s and the more recent directed technological change literature, it explains how these three...
Persistent link: https://www.econbiz.de/10013033817
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Technical progress and induced innovation in China : a variable profit function approach
Wong, K. K. Gary; Fleisher, Belton M.; Min Qiang Zhao; … - 2020
productivity (TFP) growth in China. Our primary goal is to test Hicks' induced innovation hypothesis by examining whether technical …
Persistent link: https://www.econbiz.de/10012179650