Technology shocks, structural breaks and the effects on the business cycle.

This paper contributes to the literature on the role of technology shocks as source of the business cycle in two ways. First, we document that time-series of US productivity and hours are apparently affected by a structural break in the late 60’s, which is likely due to a major change in the monetary policy. Second, we show that the importance of demand shocks over the business cycle has sharply increased after the break.

MoreLess

Year of publication:	2007-10-22
Authors:	Atella, Vincenzo ; Centoni, Marco ; Cubadda, Gianluca
Institutions:	Dipartimento di Economia, Gestione, Società e Istituzioni, Università degli Studi del Molise
Subject:	Business cycle \| technology shocks \| structural breaks

More details

Extent:	application/pdf
Series:	Economics & Statistics Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	10 pages
Classification:	C32 - Time-Series Models ; E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005748313