Yes. We construct a measure of aggregate technology change, controlling for varying utilization of capital and labor …, non- constant returns and imperfect competition, and aggregation effects. On impact, when technology improves, input use …, standard one-sector real-business-cycle models are not, since they generally predict that technology improvements are …

investment goods, while shocks to both kinds of technology are the only factors which affect labor productivity in the long run … 48 percent, a new finding which suggests that technology shocks are an important source of the business cycle. …

wage differential among homogenous unskilled workers. The skill premium arises from a skill-biased technology; the wage …