Composantes sectorielles et nationales dans l'évolution du résidu Solow
Explanations of fluctuations in the Solow residual, as an indicator of technical change, belong to the hard core of the current debate on business cycle theories. The purpose of this paper is to evaluate the relative contribution of the common sectoral and specific national disturbances to the variance of international estimates of the Solow residual at a sectoral level. Our results clearly confirm the dominance of sectoral shocks, common to all countries, over national disturbances. This feature provides a point of evidence in favor of the Real Business Cycle view at least a important place for the technological shocks in models where there are several conjonctural impulses.
Volume (Year): (1991)
Issue (Month): 24 ()
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