| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13964 |
| DP13964 Uncertainty-Induced Reallocations and Growth | |
| Ravi Bansal; Mariano Massimiliano Croce; Wenxi Liao; Samuel Rosen | |
| 发表日期 | 2019-08-28 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Focusing on both micro and aggregate U.S. data, we show the existence of a significant link between aggregate uncertainty and reallocation of resources away from R&D-intensive capital. This link is important because a decrease in the aggregate share of R&D-oriented capital forecasts lower medium-term growth. In a multi-sector production economy in which (i) growth is endogenously supported by risky R&D investments, and (ii) the representative agent is volatility-risk averse and has access to other safer technologies that do not support growth, uncertainty shocks have a first-order negative impact on medium-term growth and welfare. |
| 主题 | Financial Economics ; Macroeconomics and Growth |
| 关键词 | Uncertainty shocks Reallocation Growth |
| URL | https://cepr.org/publications/dp13964 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542845 |
| 推荐引用方式 GB/T 7714 | Ravi Bansal,Mariano Massimiliano Croce,Wenxi Liao,et al. DP13964 Uncertainty-Induced Reallocations and Growth. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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