کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5098486 | 1478704 | 2014 | 19 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Understanding the effect of technology shocks in SVARs with long-run restrictions
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
کنترل و بهینه سازی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
This paper studies the statistical properties of impulse response functions in structural vector autoregressions (SVARs) with a highly persistent variable as hours worked and long-run identifying restrictions. The highly persistent variable is specified as a nearly stationary persistent process. Such a process appears to be particularly well suited to characterize the dynamics of hours worked because it implies a unit root in a finite sample but is asymptotically stationary and persistent. This is typically the case for per capita hours worked which are included in SVARs. Theoretical results derived from this specification allow us to explain most of the empirical findings from SVARs which include US hours worked.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 41, April 2014, Pages 154-172
Journal: Journal of Economic Dynamics and Control - Volume 41, April 2014, Pages 154-172
نویسندگان
Jeremy Chaudourne, Patrick Fève, Alain Guay,