We study the effects of technology shocks on labor market dynamics. We provide evidence that a positive technology … shock leads to a weak response in nominal wage inflation, a modest decline in price inflation, and a modest rise in the real … wage on impact and a permanent rise in the long run. The same shock may lead to a rise or fall in per capita hours …

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 …

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 … estimation precision. When applied to the data, the hours response is shown to be sensitive to the contribution of non-technology …

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

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 …

This paper provides evidence for the impact of technology, labor supply, monetary policy and aggregate spending shocks … for the US, evidence of a positive response of hours to technology shocks is found, which is consistent with the … conventional real business cycle interpretation and at odds with sticky price models. In addition, an important role for technology …

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

technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov …

key variables to a permanent technology shock and their structural VAR counterparts. In a second step, we compare these …In this paper, we, seek to characterize the dynamic effects of permanent technology shocks and the way in which US …

key variables to a permanent technology shock and their structural VAR counterparts. In a second step, we conduct a …In this paper, we seek to characterize the dynamic effects of permanent technology shocks and the way in which European … permanent technology shocks …