positive technology shock, and (c) measured productivity increases temporarily in response to a positive demand shock. More …Using data for the G7 countries, I estimate conditional correlations of employment and productivity, based on a …) technology shocks appear to induce a negative comovement between productivity and employment, counterbalanced by a positive …

We dissect the comovement patterns of the macroeconomic data, identify a single shock that accounts for the bulk of the … TFP, to news about future productivity or the long run, and to demand shocks of the New Keynesian type. Instead, it …

preference or more generally a demand shock. More recently two other explanations have been advocated: surprise changes in … investment specific technology and news about future technology growth. The aim of this paper is to provide a quantitative …

, investment, average productivity and output up. This evidence contrasts sharply with the results reported in a large and growing …We provide empirical evidence that a positive shock to technology drives per capita hours worked, consumption … literature that argues, on the basis of aggregate data, that per capita hours worked fall after a positive technology shock. We …

technology shock measures. We argue that the properties of technology shocks for the manufacturing sector are quite different …