04898oam 22013334 450 991096125100332120250426110450.0978661382249997814623557091462355706978145274397414527439759781282562202128256220797814519202531451920253(CKB)3360000000443284(EBL)3012541(OCoLC)535146944(IMF)WPIEE2342004(MiAaPQ)EBC3012541(IMF)WPIEA2342004WPIEA2342004(EXLCZ)99336000000044328420020129d2004 uf 0engur|n|---|||||txtrdacontentcrdamediacrrdacarrierTechnology Shocks and Aggregate Fluctuations : How Well Does the RBC Model Fit Postwar U.S. Data? /Jordi Gali Garreta, Pau Rabanal1st ed.Washington, D.C. :International Monetary Fund,2004.1 online resource (67 p.)IMF Working Papers"December 2004."9781451875652 1451875657 Includes bibliographical references (p. 60-66).""Contents""; ""I. INTRODUCTION""; ""II. ESTIMATING THE EFFECTS OF TECHNOLOGY SHOCKS""; ""III. POSSIBLE PITFALLS IN THE ESTIMATION OF THE EFFECTS OF TECHNOLOGY SHOCKS""; ""IV. EXPLAINING THE EFFECTS OF TECHNOLOGY SHOCKS""; ""V. TECHNOLOGY SHOCKS AND THE BUSINESS CYCLE IN AN ESTIMATED DSGE MODEL""; ""VI. CONCLUSIONS""; ""VII. ADDENDUM: A RESPONSE TO ELLEN MCGRATTAN""; ""REFERENCES""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.IMF Working Papers; Working Paper ;No. 2004/234Business cyclesUnited StatesTechnological innovationsEconomic aspectsUnited StatesBusiness cyclesimfBusiness FluctuationsimfCyclesimfDeflationimfEconomic growthimfGeneral issuesimfHuman CapitalimfIncome economicsimfInflationimfInnovationimfIntellectual Property Rights: GeneralimfLabor economicsimfLabor Economics: GeneralimfLabor ProductivityimfLabor productivityimfLaborimfLabourimfMacroeconomicsimfOccupational ChoiceimfPrice LevelimfPricesimfPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)imfProduction and Operations ManagementimfProductionimfResearch and DevelopmentimfSkillsimfSticky pricesimfTechnological ChangeimfTechnologyimfUnited StatesEconomic conditions1945-United StatesimfBusiness cyclesTechnological innovationsEconomic aspectsBusiness cyclesBusiness FluctuationsCyclesDeflationEconomic growthGeneral issuesHuman CapitalIncome economicsInflationInnovationIntellectual Property Rights: GeneralLabor economicsLabor Economics: GeneralLabor ProductivityLabor productivityLaborLabourMacroeconomicsOccupational ChoicePrice LevelPricesPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)Production and Operations ManagementProductionResearch and DevelopmentSkillsSticky pricesTechnological ChangeTechnologyGali Garreta Jordi1815754Rabanal Pau1815608International Monetary Fund.Western Hemisphere Dept.DcWaIMFBOOK9910961251003321Technology Shocks and Aggregate Fluctuations4371262UNINA