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Technology, Employment, and the Business Cycle : Do Technology Shocks Explain Aggregate Fluctuations
Gali, Jordi - 1996
positive technology shock, and (c) measured productivity increases temporarily in response to a positive demand shock. More …
Persistent link: https://www.econbiz.de/10012473117
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Factor Hoarding and the Propagation of Business Cycles Shocks
Burnside, Craig - 1994
This paper analyzes the role of variable capital utilization rates in propagating shocks over the business cycle. To this end we formulate and estimate an equilibrium business cycle model in which cyclical capital utilization rates are viewed as a form of factor hoarding. We find that variable...
Persistent link: https://www.econbiz.de/10012474257
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On the Sources of Aggregate Fluctuations in Emerging Economies
Chang, Roberto - 2010
Recent research on macroeconomic fluctuations in emerging economies has focused in two leading approaches: introducing a stochastic productivity trend, in addition to temporary productivity shocks; or allowing for foreign interest rate shocks coupled with financial frictions. This paper compares...
Persistent link: https://www.econbiz.de/10012462714
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Real Business Cycles in Emerging Countries?
García-Cicco, Javier - 2006
We use more than one century of Argentine and Mexican data to estimate the structural parameters of a small-open-economy real-business-cycle model driven by nonstationary productivity shocks. We find that the RBC model does a poor job at explaining business cycles in emerging countries. We then...
Persistent link: https://www.econbiz.de/10012466032
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Assessing Structural VARs
Christiano, Lawrence J. - 2006
This paper analyzes the quality of VAR-based procedures for estimating the response of the economy to a shock. We focus … question that has attracted a great deal of attention in the literature: How do hours worked respond to an identified shock? In … all of our examples, as long as the variance in hours worked due to a given shock is above the remarkably low number of 1 …
Persistent link: https://www.econbiz.de/10012466312
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Stochastic Technical Progress, Nearly Smooth Trends and Distinct Business Cycles
Rotemberg, Julio J. - 2002
This paper investigates whether it is possible to entertain simultaneously two attractive views about US GDP. The first is that long term growth in US GDP is attributable to an empirically plausible specification of random technical progress. The second is that deviations of GDP from a fitted...
Persistent link: https://www.econbiz.de/10012469795
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Technology (and Policy) Shocks in Models of Endogenous Growth
Jones, Larry E. - 1999
Is there a trade-off between fluctuations and growth? The empirical evidence is mixed, with some studies (Kormendi and Meguire (1985)) finding a positive relationship, while others (Ramey and Ramey (1995)) finding the a negative one. Our objective in this paper is to understand how fundamental...
Persistent link: https://www.econbiz.de/10012471733
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Business Cycle Anatomy
Angeletos, George-Marios - 2018
We dissect the comovement patterns of the macroeconomic data, identify a single shock that accounts for the bulk of the …
Persistent link: https://www.econbiz.de/10012452846
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Measures of Per Capita Hours and their Implications for the Technology-Hours Debate
Francis, Neville - 2005
positive technology shock …
Persistent link: https://www.econbiz.de/10012466978
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The Source of Historical Economic Fluctuations : An Analysis using Long-Run Restrictions
Francis, Neville - 2004
This paper investigates the source of historical fluctuations in annual US data extending back to the late 19th century. Long-run identifying restrictions are used to decompose productivity, hours, and output into technology shocks and non-technology shocks. A variety of models with differing...
Persistent link: https://www.econbiz.de/10012468061