Atella, Vincenzo
[VerfasserIn]
;
Centoni, Marco
[Sonstige Person, Familie und Körperschaft];
Cubadda, Gianluca
[Sonstige Person, Familie und Körperschaft]
Technology Shocks, Structural Breaks and the Effects On the Business Cycle
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 2008 erstellt
Beschreibung:
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