Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the...

Unemployment Fluctuations and Stabilization Policies A New Keynesian Perspective Jordi Gali The MIT Press Cambridge, Massachusetts London, England Contents Series Foreword ix Preface xi Introduction ...