Technology Shocks and Aggregate Fluctuations : How Well Does the Real Business Cycle Model Fit Postwar U.S. Data?

Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures

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Year of publication:	[2006]
Authors:	Galí, Jordi
Other Persons:	Rabanal, Pau (contributor)
Publisher:	[2006]: [S.l.] : SSRN
Subject:	USA \| United States \| Real-Business-Cycle-Theorie \| Real business cycle model \| Schock \| Shock \| Technischer Fortschritt \| Technological change \| Schätzung \| Estimation \| Produktivität \| Productivity \| Privater Konsum \| Private consumption \| Neoklassische Synthese \| Neoclassical synthesis \| Arbeitsmarkt \| Labour market

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Extent:	1 Online-Ressource (67 p)
Series:	IMF Working Paper ; No. 04/234
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 2004 erstellt
Other identifiers:	10.2139/ssrn.879059 [DOI]
Classification:	E32 - Business Fluctuations; Cycles
Source:	ECONIS - Online Catalogue of the ZBW

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