کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
965854 1479233 2013 12 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Reaction to technology shocks in Markov-switching structural VARs: Identification via heteroskedasticity
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Reaction to technology shocks in Markov-switching structural VARs: Identification via heteroskedasticity
چکیده انگلیسی
The paper reconsiders the conflicting results in the debate connected to the effects of technology shocks on hours worked. Given the major dissatisfaction with the just-identifying long-run restrictions, I analyze whether the restrictions used in the literature are consistent with the data. Modeling volatility of shocks using Markov switching structure allows to obtain additional identifying information and perform tests of the restrictions that were just-identifying in classical structural vector autoregressive analysis. Using six ways of identifying technology shocks, I find that not all of them are supported by the data. There is no clear-cut evidence in favor of a positive reaction of hours to technology shocks.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Macroeconomics - Volume 36, June 2013, Pages 51-62
نویسندگان
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