news shocks. Thereby, the correlation coefficient between news shocks of a short-run identification scheme and technology …

inestigates the sources of productivity fluctuations that are commonly interpreted s technology shocks. I estimate different types … of technology shocks from structural vector autoregressions and reassess the empirical performance of the standard model … based on second moments that are conditional on technology and nontechnology (preference) shocks. Most prominently, the …

news shocks. Thereby, the correlation coefficient between news shocks of a short-run identification scheme and technology …

Recent studies using long-run restrictions question the validity of the technology-driven real business cycle … hypothesis. We propose an alternative identification that maximizes the contribution of technology shocks to the forecast ….S. data it delivers the robust result that hours worked responds negatively to positive technology shocks …

The sticky-price theory has proved fairly successful in explaining the dynamic effects of technology shocks on … of labor market variables, including employment as well as real wages and nominal wages, the sticky-price theory cannot … claim victory: it fails to account for the observed wage dynamics following technology shocks unless one is willing to …

anticipated technology shocks are an important source of business cycle volatility; the second finds anticipated technology shocks … structural news shock model adapted to reproduce the cointegrating relationship between total factor productivity and the … relative price of investment. With cointegrated neutral and investment-specific technology, anticipated shocks to the common …

Recent studies proposed news about future technology growth as the main driver of macroeconomic fluctuations. The …

aggregate hours worked respond positively to a positive technology shock. Two novel aspects of the analysis are the scope (14 … hours. We show that the short-run response of aggregate hours to a positive technology shock is remarkably similar across …

. In a recent paper, Francis et al. [2008] proposed an alternative to identify technology as the shock that maximizes the … shock increases productivity, output, and hours at business-cycle frequencies. The technology shock that maximizes …Since Galí [1999], long-run restricted VARs have become the standard for identifying the effects of technology shocks …

metropolitan area and country. A general equilibrium model demonstrates that an aggregate positive technology shock increases stock …