What drives endogenous growth in the United States?

Dennis Wesselbaum

No 1634, Kiel Working Papers from Kiel Institute for the World Economy

Abstract: 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.

Keywords: Business Cycles; Cleansing Effects of Recessions; Endogenous Growth; Learning-by-Doing (search for similar items in EconPapers)
JEL-codes: C11 E32 O40 (search for similar items in EconPapers)
Date: 2010
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Journal Article: What drives endogenous growth in the United States? (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwkwp:1634

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