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What (Really) Accounts for the Fall in Hours After a Technology Shock?

What (Really) Accounts for the Fall in Hours After a Technology Shock? »

Volume/Issue: 2012/211

Series: IMF Working Papers

Author(s): Nooman Rebei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

DOI: http://dx.doi.org/10.5089/9781475505610.001

ISBN: 9781475505610

Keywords: Firm entry and exit, Habit in consumption, Labor market frictions, Permanent technology shocks, Leontief production, Bayesian estimation., wages, wage, autocorrelation, standard deviation

The paper asks how state of the art DSGE models that account for the conditional response of hours following a positive neutral technology shock compare in a marginal likelihood race. To that end we construct and e...

What (Really) Accounts for the Fall in Hours After a Technology Shock?

What (Really) Accounts for the Fall in Hours After a Technology Shock? »

Source: What (Really) Accounts for the Fall in Hours After a Technology Shock?

Volume/Issue: 2012/211

Series: IMF Working Papers

Author(s): Nooman Rebei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505610

Keywords: Firm entry and exit, Habit in consumption, Labor market frictions, Permanent technology shocks, Leontief production, Bayesian estimation., wages, wage, autocorrelation, standard deviation

The paper asks how state of the art DSGE models that account for the conditional response of hours following a positive neutral technology shock compare in a marginal likelihood race. To that end we construct and e...