Replication data for: Endogenous Technology Adoption and R&D as Sources of Business Cycle Persistence
- Anzoategui, Diego
- Comin, Diego
- Gertler, Mark
- Martinez, Joseba
AbstractWe 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.
Is supplement to
DOI: 10.1257/mac.20170269 (Text)
Anzoategui, Diego, Diego Comin, Mark Gertler, and Joseba Martinez. “Endogenous Technology Adoption and R&D as Sources of Business Cycle Persistence.” American Economic Journal: Macroeconomics 11, no. 3 (July 2019): 67–110. https://doi.org/10.1257/mac.20170269.
- ID: 10.1257/mac.20170269 (DOI)
Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-07