Karl Whelan



negative impact hours of labor productivity growth shocks business cycle hours worked industrial productivity mathematical models technology economic aspects

Technology shocks and hours worked : checking for robust conclusions (2004)

Abstract This paper presents some new results on the effects of technology shocks on hours worked based on structural VAR specifications containing various measures of US productivity growth and hours. These specifications can produce different answers depending on which sector of the economy is examined, which transformation of hours worked is used, and on how many lags are chosen for the VAR. However, it is shown that the results from the stochastic trend specification used by Jordi Gali (1999) are robust across changes in data definition and lag length, while the results from the per capita hours specification of Christiano, Eichenbaum, and Vigfusson (2003) are not. These results provide support for Gali's findings that technology shocks have a negative impact effect on hours worked and that these shocks play a limited role in generating the business cycle.
Collections Ireland -> University College Dublin -> School of Economics
Ireland -> University College Dublin -> College of Social Sciences and Law
Ireland -> University College Dublin -> Economics Research Collection

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Karl Whelan

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Karl Whelan
University College Dublin
Total Publications: 69