G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w16681
来源IDWorking Paper 16681
Stochastic Growth in the United States and Euro Area
Peter N. Ireland
发表日期2011-01-13
出版年2011
语种英语
摘要This paper estimates, using data from the United States and Euro Area, a two-country stochastic growth model in which both neutral and investment-specific technology shocks are nonstationary but cointegrated across economies. The results point to large and persistent swings in productivity, both favorable and adverse, originating in the US but not transmitted to the EA. More specifically, the results suggest that while the EA missed out on the period of rapid investment-specific technological change enjoyed in the US during the 1990s, it also escaped the stagnation in neutral technological progress that plagued the US in the 1970s.
主题Macroeconomics ; Business Cycles ; International Economics ; International Macroeconomics ; Development and Growth ; Growth and Productivity
URLhttps://www.nber.org/papers/w16681
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/574356
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GB/T 7714
Peter N. Ireland. Stochastic Growth in the United States and Euro Area. 2011.
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