کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
9550850 1372611 2005 16 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Real business cycles, sticky wages or sticky prices? The impact of technology shocks on US manufacturing
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Real business cycles, sticky wages or sticky prices? The impact of technology shocks on US manufacturing
چکیده انگلیسی
In this paper, we examine empirically the predictions of a range of theoretical models which give a prominent role to technology shocks in explaining business cycles. To this end, we estimate (4-digit SIC) industry-level VAR models for US manufacturing using real output, the real wage and utilization corrected measures of technology and labor input. Our results support both sticky-wage DGE and RBC models over sticky-price DGE models. Moreover, they cast some doubt on the importance of technology shocks as propulsive mechanism for business cycles at the industry level.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Economic Review - Volume 49, Issue 3, April 2005, Pages 745-760
نویسندگان
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