Publication Type
Journal Article
Version
acceptedVersion
Publication Date
10-2015
Abstract
Theory suggests a range of technological characteristics that might interact with the business cycle depending on what kind of shocks or propagation mechanisms are quantitatively important. We use variation in industry growth within manufacturing to determine which technological characteristics interact significantly with the business cycle. We find that growth in labor intensive industries is especially sensitive to contractions. We show this cross-industry asymmetry occurs specifically in contractions, not in recoveries nor over the cycle in general.
Keywords
Technology, Business cycle, Financing constraints, Inalienability of human capital, Financial development
Discipline
Economics | Industrial Organization
Research Areas
Macroeconomics
Publication
European Economic Review
Volume
79
First Page
172
Last Page
195
ISSN
0014-2921
Identifier
10.1016/j.euroecorev.2015.07.006
Publisher
Elsevier
Citation
SAMANIEGO, Roberto M. and SUN, Yu.
Technology and Contractions: Evidence from Manufacturing. (2015). European Economic Review. 79, 172-195.
Available at: https://ink.library.smu.edu.sg/soe_research/1741
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1016/j.euroecorev.2015.07.006