Neutral, Investment-Specific Technical Progress and the Productivity Slowdown

نویسندگان

چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Intangibles, mismeasurement and the international productivity slowdown

We study if part of the recent international productivity slowdown can be ascribed to intangibles. Over the Great Recession both tangible and intangible investment fell, but intangible investment fell less and recovered much faster. This might a ect measured TFP growth via a combination of reduced spillovers (if any) from intangibles and mismeasurement of GDP. Using a 16 country dataset, and pr...

متن کامل

Payment Uncertainty and the Productivity Slowdown

This paper proposes a simple model that possibly explains the productivity slowdown observed in Japan during the 1990s. Under a forbearance policy by the government toward nonperforming loans, one keeping insolvent firms afloat, other economic agents become exposed to a higher risk of not being paid by their customers (payment uncertainty). It is shown that the payment uncertainty, working thro...

متن کامل

Unbalanced Growth and the U.S. Productivity Slowdown

X he single most important factor in determining a nation's standard of living in the long run is the productivity of its resources (primarily labor and capital). If maintained over time, even relatively small productivity growth rates can have large effects on living standards. For example, if productivity grew at a moderate 2.0 percent each year, the overall standard of living would double in...

متن کامل

Economic Growth, Technical Progress and Labor Productivity: Knowledge Economics and New Forms of Technical Progress

The debate on deindustrialization assumes that domestic industry is a leading sector and produces positive externalities for the whole economy. This paper will partially refute this. Since the early 1990’s, most developed and emerging economies have been subjected to two paradoxes: the paradox of Solow, which calls into question the relationship between ICT investment and productivity gains, an...

متن کامل

Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity

This paper identifies a new source of business-cycle fluctuations. Namely, a common stochastic trend in neutral and investment-specific productivity. We document that in U.S. postwar quarterly data total factor productivity (TFP) and the relative price of investment are cointegrated. We show theoretically that TFP and the relative price of investment are cointegrated if and only if neutral and ...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: Recherches économiques de Louvain

سال: 2002

ISSN: 0770-4518,1782-1495

DOI: 10.3917/rel.681.0037