Detail Transitory Productivity Shocks and Long-Run Ouput   Oleh:  Galor, Oded ; Tsiddon, Daniel Jenis: Article from Bulletin/Magazine Dalam koleksi: INTERNATIONAL ECONOMIC REVIEW vol. 33 no. 4 (1992), page 921-934. Topik: productivity; transitory productivity; shocks; long - run output Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: II49.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel This paper analyzes the effects of transitory productivity shocks on long - run output. The study demonstrates that, despite its transitory nature, an adverse productivity shock may result in lower long - run output. A fall in productivity reduces output and savings, and consequently, the interest rate increases and investment in human capital falls. Although productivity returns to its initial level, a sufficiently large reduction in investment pushes the economy to a new stationary equilibrium with lower output. A redistribution of income from consumers to savers may restore the initial long - run output. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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