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Investment : Specific Technology Shocks and International Business Cycles: An Empirical Assessment
International Monetary Fund - 2010
In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international … the relative price of investment to build and estimate these IST processes across the U.S and a ""rest of the world …
Persistent link: https://www.econbiz.de/10014397271
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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...
Persistent link: https://www.econbiz.de/10014403910
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Do Technology Shocks Lead to Productivity Slowdowns? : Evidence From Patent Data
Christiansen, Lone Engbo - 2008
This paper provides empirical evidence on the response of labor productivity to the arrival of new inventions. The … analysis shows that labor productivity may temporarily fall below trend after technological progress. However, the effects on … productivity differ between the pre- and post-World War II periods. The pre-war period shows evidence of a productivity slowdown as …
Persistent link: https://www.econbiz.de/10014401355
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Idiosyncratic shocks and aggregate fluctuations in an emerging market
Grigoli, Francesco; Luttini, Emiliano; Sandri, Damiano - 2021
This paper provides the first assessment of the contribution of idiosyncratic shocks to aggregate fluctuations in an emerging market using confidential data on the universe of Chilean firms. We find that idiosyncratic shocks account for more than 40 percent of the volatility of aggregate sales....
Persistent link: https://www.econbiz.de/10012795043
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Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies
Bhattacharya, Rudrani - 2013
How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that greater household access to finance smooths consumption. Evidence from emerging markets, where consumption is usually more volatile than income, indicates that financial reform...
Persistent link: https://www.econbiz.de/10014395178
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Desynchronized : The Comovement of Non-Hydrocarbon Business Cycles in the GCC
Cevik, Serhan - 2011
This paper investigates the empirical characteristics of business cycles and the extent of cyclical comovement in the Gulf Cooperation Council (GCC) countries, using various measures of synchronization for non-hydrocarbon GDP and constituents of aggregate demand during the period 1990-2010. By...
Persistent link: https://www.econbiz.de/10014397084
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Financial frictions in data : evidence and impact
Taheri Sanjani, Marzie - 2014
Persistent link: https://www.econbiz.de/10010479493
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What (really) accounts for the fall in hours after a technology shock?
Rebei, Nooman - 2012
neutral technology shock compare in a marginal likelihood race. To that end we construct and estimate several competing small … different hypotheses that generate the empirically observed decline in worked hours after a positive technology shock. These …
Persistent link: https://www.econbiz.de/10009621642
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What (Really) Accounts for the Fall in Hours After a Technology Shock?
Rebei, Nooman - 2012
neutral technology shock compare in a marginal likelihood race. To that end we construct and estimate several competing small … different hypotheses that generate the empirically observed decline in worked hours after a positive technology shock. These … costly adjustment of investment; (iv) persistence in the permanent technology shocks; (v) labor market friction with …
Persistent link: https://www.econbiz.de/10014395701
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Fiscal foresight and information flows
Leeper, Eric M.; Walker, Todd B.; Yang, Shu-Chun S. - 2012
News - or foresight - about future economic fundamentals can create rational expectations equilibria with non-fundamental representations that pose substantial challenges to econometric efforts to recover the structural shocks to which economic agents react. Using tax policies as a leading...
Persistent link: https://www.econbiz.de/10009618558