Arbeitspapier
What drives Endogenous Growth in the United States?
Kieler Arbeitspapiere, 1634
Autoren
Erscheinungsdatum
JEL Classification
C11
E32
O40
Schlagworte
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.
