Technology Shocks and Aggregate Fluctuations: How Well Does the Real Business Cycle Model Fit Postwar U.S. Data? Jordi Gali and Pau Rabanal, IMF Working Paper No. 04/234

@inproceedings{Gal2004TechnologySA,
  title={Technology Shocks and Aggregate Fluctuations: How Well Does the Real Business Cycle Model Fit Postwar U.S. Data? Jordi Gali and Pau Rabanal, IMF Working Paper No. 04/234},
  author={Jordi Gal{\'i} and Pau Rabanal and Tamim Bayoumi and Susanto Basu and Olivier Blanchard and Yongsung Chang and John P Fernald and Albert Marcet and Barbara Rossi and Ellen R. McGrattan},
  year={2004}
}
This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the… CONTINUE READING
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