Uncovering Some Causal Relationships Between Productivity Growth and the Structure of Economic Fluctuations: A Tentative Survey

Philippe Aghion · Gilles Saint‐Paul

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Economic Growth and Productivity Monetary Policy and Economic Impact Economic Theory and Policy

Abstract

This paper reviews the recent literature on the interactions between business cycles and growth. It focuses on the causality from cycles to growth, but also deals to some extent with the reverse causality. It discusses both “Keynesian” and “Schumpeterian” theories of cycles and growth.

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