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THE RESPONSE OF HOURS TO A TECHNOLOGY SHOCK: EVIDENCE BASED ON DIRECT MEASURES OF TECHNOLOGY

✍ Scribed by Lawrence J. Christiano; Martin Eichenbaum; Robert Vigfusson

Book ID
114996370
Publisher
MIT Press
Year
2004
Tongue
English
Weight
263 KB
Volume
2
Category
Article
ISSN
1542-4766

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## Abstract We analyze the effects of neutral and investment‐specific technology shocks on hours and output. Long cycles in hours are removed in a variety of ways. Hours robustly fall in response to neutral shocks and robustly increase in response to investment‐specific shocks. The percentage of th