Technology, employment, and the business cycle: Do technology shocks explain aggregate fluctuations?

American Economic Review

Volumn 89, Issue 1, 1999, Pages 249-271

  Galí, Jordi ^a  

^a NEW YORK UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0000198452     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.89.1.249     Document Type: Article

References (43)

1. Basu, Susanto. "Procyclical Productivity: Increasing Returns or Cyclical Utilization?" Quarterly Journal of Economics, August 1996, 111(3), pp. 719-51.
2. Basu, Susanto; Fernald, John and Kimball, Miles. "Are Technology Improvements Contractionary?" Mimeo, University of Michigan, 1997.
3. Baxter, Marianne and King, Robert G. "Fiscal Policy in General Equilibirum." American Economic Review, June 1993, 83(3), pp. 315-34.
4. Bénassy, Jean-Pascal. "Money and Wage Contracts in an Optimizing Model of the Business Cycle." Journal of Monetary Economics, April 1995, 35(2), pp. 303-16.
5. Bencivenga, Valerie. "An Econometric Study of Hours and Output Variations with Preference Shocks." International Economic Review, May 1992, 33(2), pp. 449-71.
6. Bils, Mark and Cho, Jang-Ok. "Cyclical Factor Utilizaton." Journal of Monetary Economics, April 1994, 33(2), pp. 319-54.
7. Blanchard, Olivier J. "A Traditional Interpretation of Macroeconomic Fluctuations." American Economic Review, December 1989, 79(5), pp. 1146-64.
8. Blanchard, Olivier J. and Quah, Danny. "The Dynamic Effects of Aggregate Demand and Supply Disturbances." American Economic Review, September 1989, 79(4), pp. 654-73.
9. Blanchard, Olivier J.; Solow, Robert and Wilson, B. A. "Productivity and Unemployment." Mimeo, Massachusetts Institute of Technology, 1995.
10. Blanchard, Olivier J. and Summers, Lawrence H. "Hysteresis and the European Unemployment Problem," in Stanley Fischer, ed., NBER macroeconomics annual 1986. Cambridge, MA: MIT Press, 1986, pp. 15-78.
11. Burnside, Craig and Eichenbaum, Martin. "Factor-Hoarding and the Propagation of Business-Cycle Shocks." American Economic Review, December 1996, 86(5), pp. 1154-74.
12. Burnside, Craig; Eichenbaum, Martin and Rebelo, Sergio. "Labor Hoarding and the Business Cycle." Journal of Political Economy, April 1993, 101(2), pp. 245-73.
13. Calvo, Guillermo A. "Staggered Prices in a Utility-Maximizing Framework." Journal of Monetary Economics, September 1983, 12(3), pp. 383-98.
14. Cho, Jang-Ok and Cooley, Thomas F. "The Business Cycle with Nominal Contracts." Economic Theory, June 1995,6(1), pp. 13-33.
15. Christiane, Lawrence J. and Eichenbaum, Martin. "Current Real-Business-Cycle Theories and Aggregate Labor Market Fluctuations." American Economic Review, June 1992, 82(3), pp. 430-50.
16. Cooley, Thomas F. and Dwyer, Mark. "Business Cycle Analysis Without Much Theory: A Look At Structural VARs." Mimeo, University of Rochester, 1995.
17. Forni, Mario and Reichlin, Lucrezia. "Let's Get Real: A Dynamic Factor Analytical Approach to Disaggregated Business Cycles." Centre for Economic Policy Research Discussion Paper No. 1244, September 1995.
18. Galí, Jordi. "How Well Does the IS-LM Model Fit Postwar U.S. Data?" Quarterly Journal of Economics, May 1992, 107(2), pp. 709-38.
19. _. "Government Size and Macroeconomic Stability." European Economic Review, January 1994, 38(1), pp. 117-32.
20. _. "Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?" National Bureau of Economic Research (Cambridge, MA) Working Paper No. 5721, August 1996a.
21. _. "Fluctuaciones y Persistencia del Empleo en España," in R. Marimon, ed., La economía Española: Una visión diferente. Barcelona: Antoni Bosch, 1996b, pp. 139-69.
22. Gamber, Edward N. and Joutz, Frederick L. "The Dynamic Effects of Aggregate Demand and Supply Disturbances: Comment." American Economic Review, December 1993, 83(5), pp. 1387-93.
23. Gordon, Robert J. "Are Procyclical Productivity Fluctuations a Figment of Measurement Error?" Mimeo, Northwestern University, 1990.
24. Greenwood, Jeremy; Hercowitz, Zvi and Krusell, Per. "Long-Run Implications of Investment Specific Technological Change." American Economic Review, June 1997, 87(3) pp 342-62.
25. Hairault, Jean-Olivier; Langot, François and Portier, Franck. "Time to Implement and Aggregate Fluctuations." Mimeo, CEPREMAP, Paris, January 1995.
26. Hairault, Jean-Olivier and Portier, Franck. "Money, New-Keynesian Macroeconomics and the Business Cycle." European Economic Review, December 1993, 37(8), pp. 1533-68.
27. Hansen, Gary D. and Wright, Randall. "The Labor Market in Real Business Cycle Theory." Federal Reserve Bank of Minneapolis Quarterly Review, Spring 1992, 16(2), pp. 2-12.
28. Kiley, Michael T. "Labor Productivity in U.S. Manufacturing: Does Sectoral Comovement Reflect Technology Shocks." Mimeo, Federal Reserve Board, Washington, DC, 1997.
29. Kim, Jinill. "Monetary Policy in a Stochastic Equilibrium Model with Real and Nominal Rigidities." Mimeo, Yale University, 1996.
30. King, Robert G. and Watson, Mark W. "Money, Prices, Interest Rates and the Business Cycle." Review of Economics and Statistics, February 1996, 78(1), pp. 35-53.
31. King, Robert G. and Wolman, Alexander L. "Inflation Targeting in a St. Louis Model of the 21st Century." National Bureau of Economic Research (Cambridge, MA) Working Paper No. 5507, March 1996.
32. Kydland, Finn E. and Prescott, Edward C. "Time to Build and Aggregate Fluctuations." Econometrica, November 1982, 50(6), pp. 1345-70.
33. _. "The Computational Experiment: An Econometric Tool." Journal of Economic Perspectives, Winter 1996, 10(1), pp. 69-85.
34. Mishkin, Frederic S. "Is the Fisher Effect for Real?" Journal of Monetary Economics, November 1992, 30(2), pp. 195-215.
35. Rotemberg, Julio J. "Prices, Output, and Hours: An Empirical Analysis Based on a Sticky Price Model." Journal of Monetary Economics, June 1996, 37(3), pp. 505-33.
36. Rotemberg, Julio J. and Woodford, Michael. "Real-Business-Cycle Models and the Forecastable Movements in Output, Hours, and Consumption." American Economic Review, March 1996, 86(1), pp. 71-89.
37. Sbordone, Argia M. "Cyclical Productivity in a Model of Labor Hoarding." Mimeo, Princeton University, 1996.
38. Shapiro, Matthew D. "Macroeconomic Implications of Variations in the Workweek of Capital." Brookings Papers on Economic Activity, 1996, (2), pp. 79-119.
39. Shapiro, Matthew D. and Watson, Mark W. "Sources of Business Cycle Fluctuations," in Stanley Fischer, ed., NBER macroeconomics annual 1988. Cambridge, MA: MIT Press, 1988, pp. 111-48.
40. Sims, Christopher A. "Models and Their Uses." American Journal of Agricultural Economics, 1989, 71(2), pp. 489-94.
41. _. "Macroeconomics and Methodology." Journal of Economic Perspectives, Winter 1996, 10(1), pp. 105-20.
42. Singleton, Kenneth J. "Specification and Estimation of Intertemporal Asset Pricing Models," in Benjamin M. Friedman and Frank H. Hahn, eds., Handbook of monetary economics, Vol. 1. Amsterdam: North-Holland, 1990, pp. 583-626.
43. Watson, Mark W. "Measures of Fit for Calibrated Models." Journal of Political Economy, December 1993, 101(6), pp. 1011-41.