We construct a measure of aggregate technology change, controlling for imperfect competition, varying utilization of … capital and labor, and aggregation effects. On impact, when technology improves, input use falls sharply, and output may fall … frictionless dynamic general equilibrium models, which generally predict that technology improvements are expansionary, with inputs …

of a technology shock has become widely utilized. In this paper, we investigate its reliability through Monte Carlo … impact of a technology shock on macroeconomic variables, and a corresponding level of uncertainty about the contribution of … technology shocks to the business cycle. …

of technology is embodied in the capital stock. Classic papers from the late 1950's and 1960's show that non …-optimization models display the same asymptotic growth rates whether technology is embodied (vintage capital) or disembodied. This paper …

Aggregate productivity and aggregate technology are meaningful but distinct concepts. We show that a slightly …-modified Solow productivity residual measures changes in economic welfare, even when productivity and technology differ because of …-technological gaps between productivity and technology, gaps reflecting imperfections and frictions in output and factor markets …

Most growth models assume capital is homogeneous with regard to technology. This contradicts intuition and empirical … evidence that the majority of technology is embodied in the capital stock. Berger (2001) showed that neoclassical vintage … capital (embodied technology) and non-vintage capital (disembodied technology) models have different convergence rates …

We investigate what happens to hours worked after a positive shock to technology, using the aggregate technology series …

in cost structure with the introduction of new technology. Unfortunately, data on the private provision of payment …

growth, such as managerial ability, technology use, human capital, and regulation. The more advanced literature in the field …

occurred in every industry, consistent with the idea that information technology represents a general purpose technology …