Uncertainty-driven growth

Koki Oikawa

doi:10.1016/j.jedc.2009.12.003

Uncertainty-driven growth

Koki Oikawa^*

^*Corresponding author for this work

School of Social Sciences

Research output: Contribution to journal › Article › peer-review

7 Citations (Scopus)

Abstract

In this paper, I present a model in which firm-level uncertainty raises aggregate productivity growth. The mechanism for this is learning-by-doing in the research sector: firms undertake research to reduce uncertainty, which results in social knowledge accumulation that improves the productivity of future research. The model explains the positive correlation between TFP growth and dispersion in manufacturing industries.

Original language	English
Pages (from-to)	897-912
Number of pages	16
Journal	Journal of Economic Dynamics and Control
Volume	34
Issue number	5
DOIs	https://doi.org/10.1016/j.jedc.2009.12.003
Publication status	Published - 2010 May 1

Keywords

Bayesian updating
Firm-level uncertainty
Knowledge accumulation
TFP growth and dispersion

ASJC Scopus subject areas

Economics and Econometrics
Control and Optimization
Applied Mathematics

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10.1016/j.jedc.2009.12.003

Cite this

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Uncertainty-driven growth

Abstract

Keywords

ASJC Scopus subject areas

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