Kiel Working Papers, Kiel Institute for World Economics
No 1634:
What drives Endogenous Growth in the United States?
Dennis Wesselbaum
Abstract: This paper estimates whether learning-by-doing effects or
cleansing effects of recessions drive the endogenous component of
productivity in the United States. Using Bayesian estimation techniques we
find that external and internal learning-by-doing effects dominate. We find
no evidence for cleansing effects of recessions. Furthermore, the exogenous
component of productivity growth is close to the two percent pace
Keywords: Business Cycles, Cleansing Effects of Recessions, Endogenous Growth, Learning-by-Doing; (follow links to similar papers)
JEL-Codes: C11,; E32,; O40; (follow links to similar papers)
9 pages, July 2010
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