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About Technology Shocks and Aggregate Fluctuations: How Well Does the Rbc Model Fit Postwar U.S. Data?
Our 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 evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.
Detailed Information
| Author: | Pau Rabanal |
|---|---|
| Publication Year: | 2004 |
| ISBN: | 9786613822499 |
| Pages: | 67 |
| Language: | English |
| File Size: | 0.74609375 |
| Format: | |
| Price: | FREE |
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