| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24011 |
| 来源ID | Working Paper 24011 |
| Do Household Wealth Shocks Affect Productivity? Evidence from Innovative Workers During the Great Recession | |
| Shai Bernstein; Timothy McQuade; Richard R. Townsend | |
| 发表日期 | 2017-11-13 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We investigate how the deterioration of household balance sheets affects worker productivity, and whether such effects mitigate or amplify economic downturns. To do so, we compare the output of innovative workers who experienced different declines in housing wealth, but who were employed at the same firm and lived in the same area at the onset of the 2008 crisis. We find that, following a negative wealth shock, innovative workers become less productive, and generate lower economic value for their firms. Consistent with a debt-related channel, the effects are more pronounced among those with little home equity before the crisis and those with fewer outside labor market opportunities. |
| 主题 | Financial Economics ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w24011 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581685 |
| 推荐引用方式 GB/T 7714 | Shai Bernstein,Timothy McQuade,Richard R. Townsend. Do Household Wealth Shocks Affect Productivity? Evidence from Innovative Workers During the Great Recession. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24011.pdf（884KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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