Economic Adjustment during the Great Recession: The Role of Managerial Quality

Gilbert Cette, Jimmy Lopez, Jacques Mairesse and Giuseppe Nicoletti

No 27954, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This study investigates empirically how managerial practices have affected macroeconomic adjustment during the Great Recession after the 2008 economic crisis. We use the local projection method pioneered by Jordà (2005) on a country x industry balanced panel data over the 2007-2015 period for eighteen industries in ten OECD countries. We find that, in countries where management quality is higher, production and employment are more resilient during the Great Recession. Moreover, this effect on resilience is stronger for industries deeply affected by the 2008 crisis and goes with wage moderation as well as an unchanged labor share.

JEL-codes: E24 M11 M54 (search for similar items in EconPapers)
Date: 2020-10
New Economics Papers: this item is included in nep-mac
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Working Paper: Economic Adjustment during the Great Recession: The Role of Managerial QualityAuthor-Name: Cette Gilbert (2020)
Working Paper: Economic Adjustment during the Great Recession: The Role of Managerial Quality (2020)
Working Paper: Economic adjustment during the Great Recession: The role of managerial quality (2020)
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