What Do Technology Shocks Do?
@article{Shea1998WhatDT, title={What Do Technology Shocks Do?}, author={J. Shea}, journal={NBER Macroeconomics Annual}, year={1998}, volume={13}, pages={275 - 310} }
The real-business-cycle literature has largely ignored the empirical question of what role technology shocks actually play in business cycles. The observed procyclicality of total factor productivity (TFP) does not prove that technology shocks are important to business cycles, since demand shocks could generate procyclical TFP due to increasing returns or other reasons. I address the role of technology by investigating the dynamic interactions of inputs, TFP and two observable indicators of… Expand
147 Citations
Do Technology Shocks Lower Hours Worked? Evidence from the Japan Industrial Productivity Database
- Economics
- 2013
- PDF
Why is Productivity Cyclical? A Neoclassical Model of TFP Growth and the Business Cycle
- Economics
- 2007
References
SHOWING 1-10 OF 61 REFERENCES
Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations
- Economics
- 1996
- 1,723
- PDF