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

Name File Type Size Last Modified
  dynare_modfiles 12/07/2019 02:37:PM
  matlab_codes 12/07/2019 02:37:PM
  occbin_20130531 12/07/2019 02:37:PM
DataACGM_84_15.mat application/octet-stream 12.6 KB 12/07/2019 09:37:AM
DataACGM_84_Q308.mat application/octet-stream 10.1 KB 12/07/2019 09:36:AM
Fig4Data.xlsx application/vnd.openxmlformats-officedocument.spreadsheetml.sheet 23.8 KB 12/07/2019 09:37:AM
NBER_recessions.mat application/octet-stream 922 bytes 12/07/2019 09:36:AM
ReadMe.pdf application/pdf 57.8 KB 12/07/2019 09:37:AM
baseline_irf_ZLBSmoothedVariables.mat application/octet-stream 81.6 KB 12/07/2019 09:37:AM
baseline_irf_shocks_zlb.mat application/octet-stream 8.1 KB 12/07/2019 09:36:AM

Project Description

Summary:  View help for 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:  View help for 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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