In this paper, we employ both calibration and modern (Bayesian) estimation methods to assess the role of neutral and investment-specific technology shocks in generating fluctuations in hours. Using a neoclassical stochastic growth model, we show how answers are shaped by the identification...

The episodes of stock market crises in Europe and the U.S.A. since the year 2000, and the fragility of the New Technology sector after the explosion of the speculative bubble, have sparked the interest of researchers in understanding and in modeling this market’s high volatility to prevent...

The empirical support for a DSGE type of real business cycle model with two technology shocks is evaluated using a Bayesian model averaging procedure that makes use of a finite mixture of many models within the class of vector autoregressive (VAR) processes. The linear VAR model is extended to...

This study investigates how the mobile phone can complement knowledge diffusion in order to influence CO2 emissions in 44 Sub-Saharan African countries for the period 2000-2012. The empirical evidence is based on Generalised Method of Moments. Three knowledge diffusion variables representing...

This paper assesses the robustness of the empirical results in Ertur and Koch (2007), who develop a model, which accounts for technological interdependence among countries through spatial externalities. The original version models interdependence via an interaction matrix based on geographic...

The empirical support for features of a Dynamic Stochastic General Equilibrium model with two technology shocks is valuated using Bayesian model averaging over vector autoregressions. The model features include equilibria, restrictions on long-run responses, a structural break of unknown date...