. Long-run identifying restrictions are used to decompose productivity, hours, and output into technology shocks and non …

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 …

positive technology shock …

short-run contractionary effect a positive investment shock on consumption. Such counterfactual co-movements are typical of … on impact of a positive investment shock …

find that emissions rise on impact only after an anticipated investment-specific technology shock; the response is … statistically significant after the first quarter. The same shock explains most-- roughly a third--of the total variation in … emissions at a horizon of 5 years. Notably, emissions decrease on impact after an unanticipated neutral technology shock in a …

to which the leading shock candidates can explain fluctuations in output and hours. It concludes that we are much closer …