Comment On Gali And Rabanals Technology Shocks And Aggregate Fluctuations How Well Does The Rbc Model Fit Postwar Us Data
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Technology Shocks and Aggregate Fluctuations
Author | : Mr.Pau Rabanal |
Publisher | : International Monetary Fund |
Total Pages | : 68 |
Release | : 2004-12-01 |
Genre | : Business & Economics |
ISBN | : 1451875657 |
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Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.
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