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Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations

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NBER1996-08-01 更新2025-01-04 收录
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Using data for the G7 countries, I estimate conditional correlations of employment and productivity, based on a decomposition of the two series into technology and non-technology components. The picture that emerges is hard to reconcile with the predictions of the standard Real Business Cycle model.

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1996-08-01
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