output, investment, consumption and especially hours worked in post-war US data. The estimated shock processes suggest much …

the one-sector RBC model augmented by LBD can generate aggregate comovement in response to news shock about technology … comovement in response to news about three types of shocks: i) neutral technology shock, ii) consumption technology shock, and … iii) investment technology shock. We show that these results hold for contemporaneous technology shocks and for different …