Park, Kangwoo - In: Journal of Macroeconomics 34 (2012) 3, pp. 801-821
This paper investigates the responses of sectoral employment in US manufacturing to a technology shock by its type … industries exhibit negative employment responses to an aggregate technology shock while exhibiting positive responses to a … sectoral technology shock. By comparing our FAVAR framework with Chang and Hong’s (2006) small-scale VAR, we show that applying …