Comments: Productivity Growth and the Structure of the Business Cycle by Gilles Saint-Paul

Article Abstract:

A study was conducted to evaluate research on the economic features of productivity growth and business cycles. Earlier research has focused on the development of opportunity costs in productivity growth models and assumed that some productivity growth activities generate comparative advantage during recessions. It is shown that the conclusion of output path dependence on demand shocks is not validated. Thus, comparative advantage does not necessarily generate path dependence.

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Comments: Productivity Growth and the Structure of the Business Cycle by Gilles Saint-Paul

Article Abstract:

A study was conducted to evaluate research on the economic implications of productivity growth and business cycles. Earlier research has shown a consideration for the impact of recessions on long-run growth based on applications of a simple reduced-form model with estimation and testing procedures. It is shown that the investment factor in physical capital should have been included to capture the impact of opportunity costs.

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Econometrics and business cycle empirics

Article Abstract:

Business cycle empirics such as Moore, Keynes and Koopmans have long argued about the functions of economic theory and econometrics in time-series data modelling. Economic theory is one of the useful tools for econometricians. It is a productive tool which directs the discovery and identification of structure and consolidates empirical results.

Usage, Econometrics

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