Working Paper

What drives Endogenous Growth in the United States?

Author

  • Dennis Wesselbaum
Publication Date

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.

Info

JEL Classification
C11, E32, O40

Key Words

  • Business cycles
  • Cleansing Effects of Recessions
  • Endogenous growth
  • Konjunkturzyklen
  • learning-by-doing