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Do technology shocks drive hours up or down? A little evidence from an agnostic procedure

dc.contributor.author Pesavento, E
dc.contributor.author Rossi, B
dc.date.accessioned 2010-06-28T19:00:13Z
dc.date.issued 2005-09-01
dc.identifier.issn 1365-1005
dc.identifier.uri https://hdl.handle.net/10161/2602
dc.description.abstract This paper analyzes the robustness of the estimate of a positive productivity shock on hours to the presence of a possible unit root in hours. Estimations in levels or in first differences provide opposite conclusions. We rely on an agnostic procedure in which the researcher does not have to choose between a specification in levels or in first differences. We find that a positive productivity shock has a negative impact effect on hours, but the effect is much shorter lived, and disappears after two quarters. The effect becomes positive at business-cycle frequencies, although it is not significant. © 2005 Cambridge University Press.
dc.format.mimetype application/pdf
dc.language.iso en_US
dc.publisher Cambridge University Press (CUP)
dc.relation.ispartof Macroeconomic Dynamics
dc.relation.isversionof 10.1017/S1365100505040356
dc.title Do technology shocks drive hours up or down? A little evidence from an agnostic procedure
dc.type Journal article
duke.contributor.id Rossi, B|0284645
pubs.begin-page 478
pubs.end-page 488
pubs.issue 4
pubs.organisational-group Duke
pubs.organisational-group Faculty
pubs.publication-status Published
pubs.volume 9
dc.identifier.eissn 1469-8056


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