Add to ORKGWe analyze the productivity effects of shocks to the real interest rate and to demand and supply conditions in a world where productivity enhancing activities are disruptive. The model predicts that temporary demand downturns may have positive productivity effects if the real interest rate is not too countercyclical, and that supply shocks do not affect productivity growth. The model is used to derive refined novel empirical tests on the so-called Opportunity Cost View of recessions (Aghion and Saint-Paul (1998)) vis a vis the competing theories of learning-by-doing and capital market imperfections
This paper studies the terms of trade effects from unexpected economy-specific productivity increase...
In this paper we use a quantitative model to explore the potential frictions that distinguish emergi...
Standard economic models predict that a "ceteris paribus" increase in the overall productivity resul...
This paper presents evidence on the relationship between cyclical shocks and productivity growth, fo...
This paper discusses recent theoretical and empirical work on the interactions between growth and bu...
Measured productivity is strongly procyclical. Real business cycle theories suggest that actual fluc...
On the basis of a comparative growth analysis of ten major industrial countries, it is shown that th...
In this paper we highlight the joint dynamic behavior of three key variables in labor market. Precis...
In this paper we use a quantitative model to explore the potential frictions that distinguish emergi...
Standard stochastic growth models provide theoretical restrictions on output decomposition which can...
The theoretical literature on business cycles predicts a positive investment response to productivit...
This paper examines the impact of financial market imperfections on long-term productivity growth. I...
This paper studies the terms-of-trade effects from economy-specific shocks to productivity with a f...
Economies respond differently to aggregate shocks that reduce output. While some countries rapidly r...
The dominant supply-side foundation for explanations of the growth potential of an economy is losing...
This paper studies the terms of trade effects from unexpected economy-specific productivity increase...
In this paper we use a quantitative model to explore the potential frictions that distinguish emergi...
Standard economic models predict that a "ceteris paribus" increase in the overall productivity resul...
This paper presents evidence on the relationship between cyclical shocks and productivity growth, fo...
This paper discusses recent theoretical and empirical work on the interactions between growth and bu...
Measured productivity is strongly procyclical. Real business cycle theories suggest that actual fluc...
On the basis of a comparative growth analysis of ten major industrial countries, it is shown that th...
In this paper we highlight the joint dynamic behavior of three key variables in labor market. Precis...
In this paper we use a quantitative model to explore the potential frictions that distinguish emergi...
Standard stochastic growth models provide theoretical restrictions on output decomposition which can...
The theoretical literature on business cycles predicts a positive investment response to productivit...
This paper examines the impact of financial market imperfections on long-term productivity growth. I...
This paper studies the terms-of-trade effects from economy-specific shocks to productivity with a f...
Economies respond differently to aggregate shocks that reduce output. While some countries rapidly r...
The dominant supply-side foundation for explanations of the growth potential of an economy is losing...
This paper studies the terms of trade effects from unexpected economy-specific productivity increase...
In this paper we use a quantitative model to explore the potential frictions that distinguish emergi...
Standard economic models predict that a "ceteris paribus" increase in the overall productivity resul...