Economic adjustment during the great recession: the role of managerial quality
Year: 2026
Type: article
Abstract: This study investigates empirically how managerial practices have affected macroeconomic adjustment during the Great Recession after the 2008 economic crisis. We use the local projection method pioneered by Jordà ([2005]. “Estimation and Inference of Impulse Responses by Local Projections.” American Economic Review 95 (1): 161–182.) on country-industry balanced panel data over the 2007–2015 period for eighteen industries in ten OECD countries. We find that, in countries where management quality is higher, production and employment have been more resilient during the Great Recession. Moreover, this effect on resilience is stronger for industries deeply affected by the 2008 crisis and goes with wage moderation as well as an unchanged labour share.
Institutions: NEOMA Business School, Université de Bourgogne, Université Bourgogne Franche-Comté, National Bureau of Economic Research, United Nations University – Maastricht Economic and Social Research Institute on Innovation and Technology, Maastricht University, Centre de Recherche en Économie et Statistique, ENSAE Paris, École des hautes études en sciences sociales, Libera Università Internazionale degli Studi Sociali Guido Carli
Language: English
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7127448405