, 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 …

, investment, average productivity and output. This evidence contrasts sharply with the results reported in a large and growing …We provide empirical evidence that a positive shock to technology drives up 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 …

, 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 …

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 …

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 …