Shocking stuff: technology, hours, and factor substitution

Cristiano Cantore, Miguel Leon-Ledesma, Peter McAdam () and Alpo Willman

No 1278, Working Paper Series from European Central Bank

Abstract: The reaction of hours worked to technology shocks represents a key controversy between RBC and New Keynesian explanations of the business cycle. It sparked a large empirical literature with contrasting results. We demonstrate that, with a more general and data coherent supply and production framework ( JEL Classification: E32, E23, E25

Keywords: Factor Bias; Factor Substitution; HoursWorked; normalization; RBC and NK models; technology shocks (search for similar items in EconPapers)
Date: 2010-12
New Economics Papers: this item is included in nep-cba and nep-dge
Note: 50336
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21)

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Related works:
Journal Article: SHOCKING STUFF: TECHNOLOGY, HOURS, AND FACTOR SUBSTITUTION (2014)
Working Paper: Shocking Stuff: Technology, Hours, and Factor Substitution (2013)
Working Paper: Shocking Stuff: Technology, Hours, and Factor Substitution (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20101278

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