Loading...
Please wait, while we are loading the content...
Similar Documents
Slow recoveries
| Content Provider | Library of Congress - Books/Printed Material |
|---|---|
| Author | Bergoeing, Raphael. |
| Temporal Coverage | 2004 |
| Copyright Year | 2004 |
| Abstract | "Economies respond differently to aggregate shocks that reduce output. While some countries rapidly recover their pre-crisis trend, others stagnate. Recent studies provide empirical support for a link between aggregate growth and plant dynamics through its effect on productivity: the entry and exit of firms and the reallocation of resources from less to more efficient firms explain a relevant part of transitional productivity dynamics. In this paper we use a stochastic general equilibrium model with heterogeneous firms to study the effect on aggregate short-run growth of policies that distort the process of birth, growth and death of firms, as well as the reallocation of resources across economic units. Our findings show that indeed policies that alter plant dynamics can explain slow recoveries. We also find that output losses associated to delayed recoveries are large"--National Bureau of Economic Research web site. |
| Language | English |
| Publisher | National Bureau of Economic Research |
| Publisher Place | Cambridge, MA |
| Part of Series | Catalog |
| Requires | HTML5 supported browser |
| Access Restriction | Open |
| Subject Keyword | Economic Policy Economic Stabilization Equilibrium (economics) Financial Crises Industrial Productivity Mathematical Models |
| Subject Domain (in LCSH) | Economic stabilization |
| Subject Domain (in LCSH) | Industrial productivity--Mathematical models |
| Subject Domain (in LCSH) | Financial crises--Mathematical models |
| Subject Domain (in LCSH) | Economic policy--Mathematical models |
| Subject Domain (in LCSH) | Equilibrium (Economics)--Mathematical models |
| Subject Domain (in LCC) | HB1 |
| Content Type | Text |
| Resource Type | Book |
