Capital-Embodied Technological Change, Measurement Errors and Real Business Cycles
Capital-embodied technological change is incorporated into a real business cycle (RBC) model, and some macroeconomic implications associated with errors in measurement are identified. In the model, measuremente errors arise in part because quality change is difficult to observe, and in part because of unexpected obsolescence due to changes in ten=chnology. The artificial economy outlined in this paper performs well, in terms of its ability to explain stylized facts of business cycles, as identified by the statistician. In particular, the model predicts a negative correlation between hours worked and the average priduct of labor.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||1998|
|Date of revision:|
|Contact details of provider:|| Postal: Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada|
Web page: http://www.sfu.ca/economics.html
More information through EDIRC
|Order Information:|| Postal: Working Paper Coordinator, Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada|
Web: http://www.sfu.ca/economics/research/publications.html Email:
When requesting a correction, please mention this item's handle: RePEc:sfu:sfudps:dp98-11. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Working Paper Coordinator)
If references are entirely missing, you can add them using this form.