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Read All About it!! What happens following a technology shock?

Michelle Alexopoulos

Working Papers from University of Toronto, Department of Economics

Abstract: Existing indicators of technical change are plagued by shortcomings. I present here new measures based on books published in the field of technology that resolve many of these problems and use them to identify the impact of technology shocks on economic activity. They are positively linked to changes in R&D and scientific knowledge and capture the new technologies' commercialization dates. Changes in information technology are found to be important sources of economic fluctuations in the post-WWII period and total factor productivity, investment and, to a lesser extent, labor are all shown to increase following a positive technology shock.

Keywords: business cycles; technical change; information technologies (search for similar items in EconPapers)
JEL-codes: E32 O3 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2010-01-26
New Economics Papers: this item is included in nep-bec, nep-eff, nep-ict and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

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Journal Article: Read All about It!! What Happens Following a Technology Shock? (2011) Downloads
Working Paper: Read All About it: What happens following a technology shock (2004)
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