needed to reap the benefits of an investment-specific technology shock and gradual labor-market matching, generates hump …This paper studies the implications of technical progress through investment-specific technical change in a business … persistent endogenous fluctuations in total factor productivity. Simulations suggest a limited role for investment …

needed to reap the benefits of an investment-specific technology shock and gradual labor-market matching, generates hump …This paper studies the implications of technical progress through investment-specific technical change in a business … persistent endogenous fluctuations in total factor productivity. Simulations suggest a limited role for investment …

technology shock. Technology shocks are identified as disturbances that increase relative state productivity in the long run for … heterogeneous responses of both employment and net labour flows across states, conditional on a positive technology shock. We build … net labour flows across states following a technology shock. …

This paper studies the role of investment-specific shocks as an amplification mechanism of labor market fluctuations …. We first show evidence suggesting that after a fall in the relative price of new equipment, not only do investment and … quantitative impact of investment-specific shocks on the labor market by incorporating them in a Real Business Cycle model with …

overoptimistic. We find that it is difficult to generate a boom-bust cycle (a period in which stock prices, consumption, investment … and employment all rise and then crash) in response to such a news shock, in a standard real business cycle model. However … a welfare-reducing boom-bust cycle in response to a news shock. We explore the possibility that integrating credit …

response to an interest shock is found to be too large and no longer hump-shaped in this case. In addition we find that the … response of output to a technology shock can only be reconciled with empirical findings if either the adjustment of the …