Canova, Fabio; Lopez-Salido, David; Michelacci, Claudio - Department of Economics and Business, Universitat … - 2009
We analyze how unemployment, job finding and job separation rates react to neutral and investment-specific technology … shocks. Neutral shocks increase unemployment and explain a substantial portion of it volatility; investment-specific shocks … responsible for the impact response of unemployment while job finding rates for movements along its adjustment path. The evidence …