Economic Resilience and the Dynamics of Capital Stock

F. J. Escribá-Pérez (), M. J. Murgui-García () and José Ruiz-Tamarit
Additional contact information
F. J. Escribá-Pérez: Universitat de València (Spain)
M. J. Murgui-García: Universitat de València (Spain)

No 2018017, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: The role of capital stock in measuring resilience is investigated. Based on the current and potential growth paths we propose new indexes to better measure the characteristics associated with resilience: adaptability and resistance to shocks. The dynamics of capital instead of employment is used as a proxy for economic welfare, considered ideal to represent the evolution of economic systems. The two series of capital stock for the US and Spanish economies, associated with the short-run and the long-run trajectories, allows us to empirically compute the indexes and draw conclusions about their ability to resist shocks and absorb their effects.

Keywords: Adaptability; Capital; Growth; Resilience; Resistance (search for similar items in EconPapers)
JEL-codes: E22 O10 R11 (search for similar items in EconPapers)
Date: 2018-12-12
New Economics Papers: this item is included in nep-geo and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://sites.uclouvain.be/econ/DP/IRES/2018017.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:2018017

Access Statistics for this paper

More papers in LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) Place Montesquieu 3, 1348 Louvain-la-Neuve (Belgium). Contact information at EDIRC.
Bibliographic data for series maintained by Virginie LEBLANC ().