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Technology shocks, structural breaks and the effects on the business cycle
Vincenzo Atella () and
Marco Centoni ()
Gianluca Cubadda Economics & Statistics Discussion Papers from University of Molise, Dept. SEGeS
This paper contributes to the literature on the role of technology shocks as source of the business cycle in two ways. First, we document that time-series of US productivity and hours are apparently affected by a structural break in the late 60’s, which is likely due to a major change in the monetary policy. Second, we show that the importance of demand shocks over the business cycle has sharply increased after the break.
Keywords: Business cycle; technology shocks; structural breaks. (search for similar items in EconPapers)
JEL-codes: C32 E32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-cba and nep-mac
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Downloads: (external link) http://web.unimol.it/progetti/repec/mol/ecsdps/ESDP07041.pdf (application/pdf)
Related works: Journal Article: Technology shocks, structural breaks and the effects on the business cycle (2008) Working Paper: Technology shocks, structural breaks and the effects on the business cycle (2007) This item may be available elsewhere in EconPapers: Search for items with the same title.
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Persistent link: http://EconPapers.repec.org/RePEc:mol:ecsdps:esdp07041
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