What drives Endogenous Growth in the United States?
AbstractThis 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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Bibliographic InfoPaper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1634.
Length: 9 pages
Date of creation: Jul 2010
Date of revision:
Business Cycles; Cleansing Effects of Recessions; Endogenous Growth; Learning-by-Doing;
Find related papers by JEL classification:
- C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-07-17 (All new papers)
- NEP-BEC-2010-07-17 (Business Economics)
- NEP-FDG-2010-07-17 (Financial Development & Growth)
- NEP-MIC-2010-07-17 (Microeconomics)
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