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What Do Technology Shocks Do?

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NBER1998-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w6632
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The real business cycle literature has largely ignored the empirical question of what role technology shocks actually play in business cycles. The observed procyclicality of total factor productivity (TFP) does not prove that technology shocks are important to business cycles, since demand shocks
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1998-07-01
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