Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/202279 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
JRC Working Papers in Economics and Finance No. 2017/1
Verlag: 
Publications Office of the European Union, Luxembourg
Zusammenfassung: 
The macroeconomic experience of the last decade stressed the importance of jointly studying the growth and business cycle fluctuations behavior of the economy. To analyze this issue, we embed a model of Schumpeterian growth into an estimated medium-scale DSGE model. Results from a Bayesian estimation suggest that investment risk premia are a key driver of the slump following the Great Recession. Endogenous innovation dynamics amplifies financial crises and helps explain the slow recovery. Moreover, financial conditions also account for a substantial share of R&D investment dynamics.
Schlagwörter: 
endogenous growth
R&D
Schumpeterian growth
Bayesian estimation
JEL: 
E3
O3
O4
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-92-79-67436-5
Dokumentart: 
Working Paper

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