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Thursday, April 23, 2020 | History

5 edition of A flexible finite-horizon identification of technology shocks found in the catalog.

A flexible finite-horizon identification of technology shocks

Neville Francis

A flexible finite-horizon identification of technology shocks

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  • 21 Currently reading

Published by Federal Reserve Bank of St. Louis in [St. Louis, Mo.] .
Written in English

  • Business cycles -- Effect of technological innovations.

  • Edition Notes

    Statementby Neville Francis, Michael T. Owyang, and Jennifer E. Roush.
    SeriesWorking paper ;, 2005-024A, Working paper (Federal Reserve Bank of St. Louis : Online) ;, 2005-024A.
    ContributionsOwyang, Michael T., Roush, Jennifer E., 1970-, Federal Reserve Bank of St. Louis.
    LC ClassificationsHB1
    The Physical Object
    FormatElectronic resource
    ID Numbers
    Open LibraryOL3479032M
    LC Control Number2005619337

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A flexible finite-horizon identification of technology shocks by Neville Francis Download PDF EPUB FB2

The primary difference is that we allow the data to determine the value of the FEV share attributable to technology at a finite horizon at which productivity is exclusively driven by technology.

Return to text. The orthogonalization ensures that technology shocks identified by α* are independent of the non-technology shocks in the system. In small samples, our identification outperforms its in finite horizon counterpart by producing less biased impulse responses and technology shocks that are more highly correlated with the technology shocks from the underlying model.

The identification method is flexible enough to study the effects of technology news shocks. The responses are consistent with the idea that news on technology improvements have an immediate.

; Earlier title: A flexible finite-horizon identification of technology shocks Recent studies using long-run restrictions question the validity of the technology-driven real business cycle hypothesis. A Flexible Finite-Horizon Alternative to Long-Run Restrictions with an Application to Technology Shocks Neville Francis, Michael T.

Owyang, Jennifer E. Roush and Riccardo DiCecio Posted Online Septem Cited by: A Flexible Finite-Horizon Alternative To Long-run Restrictions With An Application To Technology Shocks FEDERAL RESERVE BANK OF ST.

LOUIS Research Division P.O. Box St. Louis, MO RESEARCH DIVISION Working Paper Series Riccardo DiCecio. A Flexible Finite-Horizon Alternative to Long-run Restrictions with an Application to Technology Shocks Neville Francisy Michael T.

Owyangz Jennifer E. Roushx and Riccardo DiCecio{keywords: productivity, structural VAR, long-run restrictions J Abstract Recent studies using long-run restrictions question the validity of the technology-driven real.

A Flexible Finite-Horizon Alternative to Long-Run Restrictions with an Application to Technology Shocks Article in Review of Economics and Statistics 96(4) December with Reads.

studies also find that hours contract on impact in response to a positive technology shock. 3Christiano, Eichenbaum, and Vigfusson (CEV, ) argue that labor, if assumed stationary, responds to a technology shock positively on impact.

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