This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
On the Employment Effect of Technology: Evidence from US Manufacturing for 1958-1996 Author info | Abstract | Publisher info | Download info | Related research | Statistics Yongsung Chang () (Federal Reserve Bank of Richmond)
Jay H. Hong () (Department of Economics, University of Pennsylvania)
Additional information is available for the following
registered author(s):
Recently, Galí and others find that technological progress may be contractionary: a favorable technology shock reduces hours worked in the short run. We ask whether this observation is robust in disaggregate data. According to our VAR analysis of 458 four-digit U.S. manufacturing industries for 1958-1996, some industries do exhibit temporary reduction in hours in response to a permanent increase in TFP. However, there are far more industries in which technological progress significantly increases hours. Using micro data on average price duration, we ask whether the difference across industries is related to the stickiness of industry-output prices. Among 87 manufacturing goods, we do not find such a relation.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Paper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number
03-004.
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Length: 35 pages
Date of creation: 25 Jan 2003Date of revision:
Handle: RePEc:pen:papers:03-004Contact details of provider: Postal: 3718 Locust Walk, Philadelphia, PA 19104 Phone: 215-898-9992 Fax: 215-573-2378 Email: Web page: http://economics.sas.upenn.edu/pier More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Dolly Guarini).
Keywords: Technology Shocks ; Hours Fluctuations ; Sticky Prices ; Other versions of this item:
Find related papers by JEL classification: E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
Berndt, Ernst R, 1976.
"Reconciling Alternative Estimates of the Elasticity of Substitution ,"
The Review of Economics and Statistics ,
MIT Press, vol. 58(1), pages 59-68, February.
[Downloadable!] (restricted)
Unknown, 1998.
"Discussion ,"
Journal of Economic Psychology ,
Elsevier, vol. 19(5), pages 645-650, October.
[Downloadable!] (restricted)
Susanto Basu & John Fernald & Miles Kimball, 2004.
"Are Technology Improvements Contractionary? ,"
NBER Working Papers
10592, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Susanto Basu & John Fernald & Miles Kimball, 2004.
"Are technology improvements contractionary? ,"
Working Paper Series
WP-04-20, Federal Reserve Bank of Chicago.
[Downloadable!] Susanto Basu & John Fernald & Miles Kimball, 2002.
"Are Technology Improvements Contractionary? ,"
Harvard Institute of Economic Research Working Papers
1986, Harvard - Institute of Economic Research.
[Downloadable!] Susanto Basu & John Fernald & Miles Kimball, 1998.
"Are technology improvements contractionary? ,"
International Finance Discussion Papers
625, Board of Governors of the Federal Reserve System (U.S.).
[Downloadable!] Susanto Basu & John G. Fernald & Miles S. Kimball, 2006.
"Are Technology Improvements Contractionary? ,"
American Economic Review ,
American Economic Association, vol. 96(5), pages 1418-1448, December.
[Downloadable!] Kortum, Samuel, 1993.
"Equilibrium R&D and the Patent-R&D Ratio: U.S. Evidence ,"
American Economic Review ,
American Economic Association, vol. 83(2), pages 450-57, May.
Blanchard, Olivier Jean & Quah, Danny, 1989.
"The Dynamic Effects of Aggregate Demand and Supply Disturbances ,"
American Economic Review ,
American Economic Association, vol. 79(4), pages 655-73, September.
[Downloadable!] (restricted)
Other versions: Hall, Robert E., 1987.
"Productivity and the business cycle ,"
Carnegie-Rochester Conference Series on Public Policy ,
Elsevier, vol. 27(1), pages 421-444, January.
[Downloadable!] (restricted)
Susanto Basu & John G. Fernald, 1996.
"Returns to scale in U.S. production: estimates and implications ,"
International Finance Discussion Papers
546, Board of Governors of the Federal Reserve System (U.S.).
[Downloadable!]
Other versions: Domenico J. Marchetti & francesco Nucci, 2001.
"Unobserved Factor Utilization, Technology Shocks and Business Cycles ,"
Temi di discussione (Economic working papers)
392, Bank of Italy, Economic Research Department.
[Downloadable!]
José Angulo & N. Cressie & C. Wikle & P. Soidán & M. Bande & C. Glasbey & John Kent & Ana Militino & Michael Stein, 1998.
"Discussion ,"
TEST: An Official Journal of the Spanish Society of Statistics and Operations Research ,
Springer, vol. 7(2), pages 283-285, December.
[Downloadable!] (restricted)
Unknown, 1998.
"Discussion ,"
Journal of Economic Psychology ,
Elsevier, vol. 19(5), pages 651-652, October.
[Downloadable!] (restricted)
Valerie Ramey & Neville Francis, 2002.
"Is The Technology-Driven Real Business Cycle Hypothesis Dead? Shocks and Aggregate Fluctuations Revisted ,"
University of California at San Diego, Economics Working Paper Series
2002-03, Department of Economics, UC San Diego.
[Downloadable!]
Other versions: Zvi Griliches & Frank R. Lichtenberg, 1984.
"R&D and Productivity Growth at the Industry Level: Is There Still a Relationship? ,"
NBER Chapters ,
in: R & D, Patents, and Productivity, pages 465-502
National Bureau of Economic Research, Inc.
[Downloadable!]
Other versions: Michael Dotsey, 1999.
"Structure from shocks ,"
Working Paper
99-06, Federal Reserve Bank of Richmond.
[Downloadable!]
Mikael Carlsson, 2003.
"Measures of Technology and the Short-run Response to Technology Shocks ,"
Scandinavian Journal of Economics ,
Blackwell Publishing, vol. 105(4), pages 555-579, December.
[Downloadable!] (restricted)
John Shea, 1998.
"What Do Technology Shocks Do? ,"
NBER Working Papers
6632, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Jordi Gali & J. David Lopez-Salido & Javier Valles, 2002.
"Technology Shocks and Monetary Policy: Assessing the Fed's Performance ,"
NBER Working Papers
8768, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Jordi Galí & David López-Salido & Javier Vallés, 2000.
"Technology Shocks and Monetary policy: Assessing the Fed's Performance ,"
Banco de España Working Papers
0013, Banco de España.
[Downloadable!] Galí, Jordi & Lopez-Salido, Jose David & Vallés Liberal, Javier, 2002.
"Technology Shocks and Monetary Policy: Assessing the Fed's Performance ,"
CEPR Discussion Papers
3211, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Gali, Jordi & Lopez-Salido, J. David & Valles, Javier, 2003.
"Technology shocks and monetary policy: assessing the Fed's performance ,"
Journal of Monetary Economics ,
Elsevier, vol. 50(4), pages 723-743, May.
[Downloadable!] (restricted) Jordi Gali, 1999.
"Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations? ,"
American Economic Review ,
American Economic Association, vol. 89(1), pages 249-271, March.
[Downloadable!] (restricted)
Other versions:
Jordi Gali, 1996.
"Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations ,"
NBER Working Papers
5721, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Gali, J., 1996.
"Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations? ,"
Working Papers
96-28, C.V. Starr Center for Applied Economics, New York University.
[Downloadable!] Galí, Jordi, 1996.
"Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations? ,"
CEPR Discussion Papers
1499, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Burnside, C & Eichenbaum, M & Rebelo, S, 1995.
"Capital Utilization and Returns to Scale ,"
RCER Working Papers
402, University of Rochester - Center for Economic Research (RCER).
Other versions:
Craig Burnside & Martin Eichenbaum & Sergio Rebelo, 1995.
"Capital Utilization and Returns to Scale ,"
NBER Working Papers
5125, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Craig Burnside & Martin Eichenbaum & Sergio Rebelo, 1995.
"Capital utilization and returns to scale ,"
Working Paper Series, Macroeconomic Issues
95-5, Federal Reserve Bank of Chicago.
Burnside, A Craig & Eichenbaum, Martin & Rebelo, Sérgio, 1995.
"Capital Utilization and Returns to Scale ,"
CEPR Discussion Papers
1221, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Craig Burnside & Martin Eichenbaum & Sergio Rebelo, 1995.
"Capital Utilization and Returns to Scale ,"
NBER Chapters ,
in: NBER Macroeconomics Annual 1995, Volume 10, pages 67-124
National Bureau of Economic Research, Inc.
[Downloadable!] Jermann, Urban J., 1998.
"Asset pricing in production economies ,"
Journal of Monetary Economics ,
Elsevier, vol. 41(2), pages 257-275, April.
[Downloadable!] (restricted)
Mark Bils & Peter J. Klenow, 2002.
"Some Evidence on the Importance of Sticky Prices ,"
NBER Working Papers
9069, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Gort, Michael & Klepper, Steven, 1982.
"Time Paths in the Diffusion of Product Innovations ,"
Economic Journal ,
Royal Economic Society, vol. 92(367), pages 630-53, September.
[Downloadable!] (restricted)
Unknown, 1998.
"Discussion ,"
Journal of Economic Psychology ,
Elsevier, vol. 19(5), pages 619-643, October.
[Downloadable!] (restricted)
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Domenico J. Marchetti & Francesco Nucci, 2004.
"Pricing behavior and the comovement of productivity and labor: evidence from firm-level data ,"
Temi di discussione (Economic working papers)
524, Bank of Italy, Economic Research Department.
[Downloadable!]
Access and
download statistics Did you know? The RePEc project started in 1997. Its precursor, NetEc, dates back to 1993.
This page was last updated on 2009-11-6.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .