technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov …

This paper examines how product market competition affects firms' timing of adopting a new technology as well as …. When goods are differentiated enough, adoption occurs later than it is socially optimal. -- technology adoption …

This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possibly leading to default by some firms. The paper advances a new … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …

valuation of firms in the transition as technology changes, and whether or not share prices are always increasing when … technology improves. We find that there can be a U-shaped transition dynamic, so that an initial boom in share price is followed … by a temporary fall in share price even though the underlying technology is improving. …

Carlo evidence suggests that the quadratic specification more precisely represents technology. …

Production capital and technology, fundamental to understanding output and productivity growth, are unobserved except … of capital and technology for the sample period. We apply the method to annual data from 1947-97 for U.S. total …

effects of entry-year electricity prices on subsequent energy intensity. We discuss how this "technology lock-in" increases …