Measures of Technology and the Short-Run Responses to Technology Shocks - Is the RBC-Model Consistent with Swedish Manufacturing Data?

No 2000:20, Working Paper Series from Uppsala University, Department of Economics

Abstract: This paper estimates technology growth using several variants of the Hall (1988, 1990) method on data for Swedish two-digit manufacturing industries. More specifically, I first apply and evaluate two different approaches to control for varying factor utilization developed by Basu et al. (1998) and Burnside et al. (1995). Second, I propose a generalization of the latter specification. Finally, the cyclical behavior of the resulting technology measure is studied and the responses of hours and output to a technology shock are estimated using a variant of the standard VAR-approach. The main finding is that a positive technology shock has, on impact, a contractionary effect on hours and non-expansionary effect on output. This finding is inconsistent with the predictions of the standard real business cycle model.

Keywords: technological change; cyclical factor utilization; business fluctuations; panel data; manufacturing (search for similar items in EconPapers)
JEL-codes: C33 D24 E32 L60 (search for similar items in EconPapers)
Pages: 62 pages
Date: 2000-12-05
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Published in Scandinavian Journal of Economics, 2003, pages 555-579.

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: Measures of Technology and the Short-Run Responses to Technology Shocks - Is the RBC-Model Consistent with Swedish Manufacturing Data? (2000)
Working Paper: Measures of Technology and the Short-Run Responses to Technology Shocks - Is the RBC-Model Consistent with Swedish Manufacturing Data? (2000)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hhs:uunewp:2000_020

Access Statistics for this paper

More papers in Working Paper Series from Uppsala University, Department of Economics Department of Economics, Uppsala University, P. O. Box 513, SE-751 20 Uppsala, Sweden. Contact information at EDIRC.
Bibliographic data for series maintained by Ulrika Öjdeby ().