Technology Shocks and Aggregate Fluctuations : How Well Does the RBC Model Fit Postwar U.S. Data?.

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Bibliographic Details
Author / Creator:Gal�i, Jordi.
Imprint:International Monetary Fund 2004.
Description:1 online resource (68 pages)
Language:English
Subject:United States.
United States.
Electronic books
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12500736
Hidden Bibliographic Details
Other authors / contributors:Gal�i, Jordi.
ISBN:1282562207
9781282562202
9781451920253
1451920253
Summary: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 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.