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technology shocks. It is found that hours worked increase on impact in response to a technology shock (though the effect dies …
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sizable role for capital augmenting shock for business cycles fluctuations. In rolling sub-samples, we document that the …
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technology shocks. It is found that hours worked increase on impact in response to a technology shock (though the effect dies …
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"Gali and Rabanal provide statistical evidence that, in their view, puts into question the real business cycle paradigm in favor of the sticky-price paradigm. I demonstrate that their statistical procedure is easily misled in that they would reach the same conclusions even if their data had been...
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