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

Working Paper No. 12/211

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 estimate several competing small-scale DSGE models that extend the standard real business cycle model. In particular, we identify from... READ MORE...

Publication date: August 2012
ISBN 9781475505610

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Publication date: August 2012