measurement of labor input as well as determining the effect of productivity shocks on labor, but a number of questions remain. As … for measurement, the issue of schooling needs further work. As for calculating the long-run impact of labor productivity …-term identification delivers more reasonable results. -- technological progress ; business cycles ; hours worked ; labor productivity …

We explore the implications of shocks to expected future productivity in a setting with limited enforcement of … response to positive news about future productivity, as well as the other properties of an expectation driven business cycle …

"This paper investigates a real-business-cycle economy that features dispersed information about the underlying … aggregate productivity shocks, taste shocks, and, potentially, shocks to monopoly power. We show how the dispersion of … information can (i) contribute to significant inertia in the response of macroeconomic outcomes to such shocks; (ii) induce a …

question in the context of a heterogeneous-firm RBC model with persistent firm-level productivity shocks and lumpy capital …