Technology shocks, structural breaks and the effects on the business cycle

Vincenzo Atella (), Marco Centoni () and Gianluca Cubadda ()

Economics & Statistics Discussion Papers from University of Molise, Dept. SEGeS

Abstract: 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
Date: 2007-10-22
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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)
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Persistent link: http://EconPapers.repec.org/RePEc:mol:ecsdps:esdp07041

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