Production function residuals, VAR technology shocks, and hours worked: Evidence from industry data
2007 (English)In: Economics Letters, ISSN 0165-1765, Vol. 96, no 2, 259-263 p.Article in journal (Refereed) Published
Using disaggregate U.S. industry data, we analyze three different production function residuals and the technology shocks obtained from the Galí [Galí, J., 1999. Technology, employment, and the business cycle: Do technology shocks explain aggregate fluctuations? American Economic Review 89, 249–271.] structural VAR model. The different methods produce technology shocks that are highly correlated and negatively related to hours worked.
Place, publisher, year, edition, pages
2007. Vol. 96, no 2, 259-263 p.
Technology shocks, Productions function approach, Structural VAR models
Research subject Economics
IdentifiersURN: urn:nbn:se:uu:diva-108551DOI: 10.1016/j.econlet.2007.01.001ISI: 000248153800017OAI: oai:DiVA.org:uu-108551DiVA: diva2:236277