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On the effects of economic fluctuations on productivity growth

Bibliographic Details
Main Author: Menezes, António Gomes de
Publication Date: 2004
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/10400.3/1134
Summary: We 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.
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spelling On the effects of economic fluctuations on productivity growthEconomic FluctuationsProductivity GrowthWe 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.CEEAplARepositório da Universidade dos AçoresMenezes, António Gomes de2011-05-12T11:16:13Z2004-112004-11-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.3/1134enginfo:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2025-03-07T09:59:29Zoai:repositorio.uac.pt:10400.3/1134Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-29T00:27:30.689264Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv On the effects of economic fluctuations on productivity growth
title On the effects of economic fluctuations on productivity growth
spellingShingle On the effects of economic fluctuations on productivity growth
Menezes, António Gomes de
Economic Fluctuations
Productivity Growth
title_short On the effects of economic fluctuations on productivity growth
title_full On the effects of economic fluctuations on productivity growth
title_fullStr On the effects of economic fluctuations on productivity growth
title_full_unstemmed On the effects of economic fluctuations on productivity growth
title_sort On the effects of economic fluctuations on productivity growth
author Menezes, António Gomes de
author_facet Menezes, António Gomes de
author_role author
dc.contributor.none.fl_str_mv Repositório da Universidade dos Açores
dc.contributor.author.fl_str_mv Menezes, António Gomes de
dc.subject.por.fl_str_mv Economic Fluctuations
Productivity Growth
topic Economic Fluctuations
Productivity Growth
description We 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.
publishDate 2004
dc.date.none.fl_str_mv 2004-11
2004-11-01T00:00:00Z
2011-05-12T11:16:13Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.3/1134
url http://hdl.handle.net/10400.3/1134
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv CEEAplA
publisher.none.fl_str_mv CEEAplA
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
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repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
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