Kimball, Miles S.; Fernald, John G.; Basu, Susanto - In: American Economic Review 96 (2006) 5, pp. 1418-1448
Yes. We construct a measure of aggregate technology change, controlling for aggregation effects, varying utilization of capital and labor, nonconstant returns, and imperfect competition. On impact, when technology improves, input use and nonresidential investment fall sharply. Output changes...