| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26248 |
| 来源ID | Working Paper 26248 |
| Uncertainty-Induced Reallocations and Growth | |
| Ravi Bansal; Mariano Max Croce; Wenxi Liao; Samuel Rosen | |
| 发表日期 | 2019-09-09 |
| 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 | Macroeconomics ; Business Cycles ; Fiscal Policy ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w26248 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/583920 |
| 推荐引用方式 GB/T 7714 | Ravi Bansal,Mariano Max Croce,Wenxi Liao,et al. Uncertainty-Induced Reallocations and Growth. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26248.pdf（1508KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
