Replication data for: Endogenous Technology Adoption and R&D as Sources of Business Cycle Persistence

Principal Investigator(s): View help for Principal Investigator(s) Diego Anzoategui; Diego Comin; Mark Gertler; Joseba Martinez

Version: View help for Version V1

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data			12/07/2019 02:37:PM
LICENSE.txt	text/plain	14.6 KB	12/07/2019 09:37:AM

Project Citation:

Anzoategui, Diego, Comin, Diego, Gertler, Mark, and Martinez, Joseba. Replication data for: Endogenous Technology Adoption and R&D as Sources of Business Cycle Persistence. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116416V1

Project Description

Summary: 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 development and adoption of technologies. Our main finding is that a significant fraction of the post-Great Recession fall in productivity was an endogenous phenomenon, suggesting that demand factors played an important role in the postcrisis slowdown of capacity growth. More generally, we provide insight into why recoveries from financial crises may be so slow.

Scope of Project

JEL Classification:
      E23 Macroeconomics: Production
      E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
      E32 Business Fluctuations; Cycles
      E44 Financial Markets and the Macroeconomy
      G01 Financial Crises

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V1 [2019-12-07]

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