Busato, Francesco; Girardi, Alessandro; Argentiero, Amadeo - School of Economics and Management, University of Aarhus - 2005
effect, the aggregate dynamics is driven by the relatively larger sector, which is the non-durable good one. …. Overall, due to a size effect, the
aggregate dynamics is driven by the relatively larger sector, which is the non … the estimated residuals.
A first assumption is that only technology shocks have a permanent effect on the level of …