Publication
Jul 2010
This paper estimates whether learning-by-doing effects or cleansing effects of recessions drive the endogenous component of productivity in the United States. Using Bayesian estimation techniques we find that external and internal learning-by-doing effects dominate. We find no evidence for cleansing effects of recessions. Furthermore, the exogenous component of productivity growth is close to the two percent pace.
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English (PDF, 9 pages, 346 KB) |
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Author | Dennis Wesselbaum |
Series | Kiel Institute Working Papers |
Issue | 1634 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2010 Kiel Institute for the World Economy |