Extra! Extra! Some positive technology shocks are expansionary!
Abstract
I propose a new measure of technological change for the U.S. and use it to identify the economy's responses to a technology shock. The results suggest that GDP, TFP, and inputs increase following a positive technology shock.Download Info
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Bibliographic Info
Article provided by Elsevier in its journal Economics Letters.
Volume (Year): 101 (2008)
Issue (Month): 3 (December)
Pages: 153-156
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Handle: RePEc:eee:ecolet:v:101:y:2008:i:3:p:153-156
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Web page: http://www.elsevier.com/locate/ecolet
For corrections or technical questions regarding this item, or to correct its listing, contact: (Jeroen Loos).
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Keywords: Business cycles Technical change Measurement;References
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