International Finance Discussion Papers (IFDP)
December 2003
The Response of Hours to a Technology Shock: Evidence Based on Direct Measures of Technology
Lawrence J Christiano, Martin Eichenbaum, and Robert Vigfusson
Abstract:
We investigate what happens to hours worked after a positive shock to technology, using the aggregate technology series computed in Basu, Fernald and Kimball (1999). We conclude that hours worked rise after such a shock.
As Published Elsewhere: Journal of European Economic Association, forthcoming
Keywords: Productivity, long-run identifying assumption, Granger-causality
PDF: Full Paper
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