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Atlantic Economic Journal - 相似文献
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Anelí Bongers 《Bulletin of economic research》2023,75(1):141-150
This paper supplements a learning-by-doing real business cycle model with endogenous organizational forgetting. Empirical evidence shows that the accumulated experience decay rate is not constant over the business cycle, but that forgetting is a function of economic activity. Learning reinforces the effects of productivity shocks, and organizational forgetting exacerbates their impact and increases their persistence. This is of particular interest when a negative productivity shock hits the economy, as the increasing speed of forgetting aggravates the negative shock and delays recovery. 相似文献
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