Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/249188 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
JRC Working Papers on Territorial Modelling and Analysis No. 04/2021
Verlag: 
European Commission, Joint Research Centre (JRC), Seville
Zusammenfassung: 
Growth and business cycles have a long tradition of being studied separately. However, events such as the Great Recession raise concerns that severe downturns may have detrimental implications for growth. If so, what policies may help alleviate such long-lasting effects of large recessions? To study these questions, we develop a tractable general equilibrium model of endogenous growth featuring heterogeneous firms, financial constraints and a range of innovation policies. A preliminary analysis suggests that counter-cyclical tax credits may serve as a powerful automatic stabilizer alleviating the long-lasting negative effects of severe cyclical downturns.
Schlagwörter: 
Firm dynamics
innovation policy
endogenous growth
business cycles
JEL: 
F12
F13
O31
O41
Creative-Commons-Lizenz: 
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Dokumentart: 
Working Paper

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