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Economic adjustment during the great recession: the role of managerial quality

Author

Listed:
  • Gilbert Cette

    (NEOMA - Neoma Business School)

  • Jimmy Lopez

    (UBE - Université Bourgogne Europe, LEDi - Laboratoire d'Economie de Dijon [Dijon] - UBE - Université Bourgogne Europe)

  • Jacques Mairesse

    (CREST - Centre de Recherche en Economie et Statistique [Bruz] - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique)

  • Giuseppe Nicoletti

    (LUISS - Libera Università Internazionale degli Studi Sociali Guido Carli [Roma])

Abstract

This study investigates empirically how managerial practices have affected macroeconomic adjustment during the Great Recession after the 2008 economic crisis. We use the local projection method pioneered by Jordà (2005) on a country x industry balanced panel data over the 2007-2015 period for eighteen industries in ten OECD countries. We find that, in countries where management quality is higher, production and employment are more resilient during the Great Recession. Moreover, this effect on resilience is stronger for industries deeply affected by the 2008 crisis and goes with wage moderation as well as an unchanged labor share.

Suggested Citation

  • Gilbert Cette & Jimmy Lopez & Jacques Mairesse & Giuseppe Nicoletti, 2026. "Economic adjustment during the great recession: the role of managerial quality," Post-Print hal-05718400, HAL.
    • Handle: RePEc:hal:journl:hal-05718400
    DOI: 10.1080/10438599.2026.2620467
    Note: View the original document on HAL open archive server: https://hal.science/hal-05718400v1
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