Endogenous technology adoption and R & D as sources of business cycle persistence
We examine the hypothesis that the slowdown in productivity following the Great Recession was in significant part an endogenous response to the contraction in demand that induced the downturn. We motivate, develop, and estimate a model with an endogenous TFP mechanism that allows for costly developm...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
American Economic Association
2019
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| Online Access: | View Fulltext in Publisher |