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The exposure of technology and knowledge intense sectors to the business cycle

Werner Hölzl (), Serguei Kaniovski () and Andreas Reinstaller ()

Bulletin of Applied Economics, 2015, vol. 2, issue 1, 1-19

Abstract: This paper studies the business cycle sensitivity of industries using different industry groupings. The results show that technologically intense industries are heavily affected by business cycles. While the overall importance of business cycles for long-run growth seems to be rather limited, we observe for industries with high technology intensity that business cycles may have persistent long-run effects on sectoral performance.

Keywords: technology shocks; business cycle; long-run restrictions; sectoral response; structural change (search for similar items in EconPapers)
JEL-codes: C32 E32 O11 O40 (search for similar items in EconPapers)
Date: 2015
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