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Technology, employment, and the business cycle : do technology shocks explain aggregate fluctuations?

Galí, Jordi - In: The American economic review 89 (1999) 1, pp. 249-271

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Noisy news in business cycles

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Technology shocks and aggregate fluctuations : how well does the RBC model fit post-war US data?

Galí, Jordi - 2004

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Technology Shocks and Aggregate Fluctuations : How Well Does the RBC Model Fit Postwar U.S. Data?

Galí, Jordi - 2004

Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the...