Economics, Econometrics and Finance
4 years ago

Demand factors, not technology, drive economic fluctuations in post-war US.

1 view
RePEc: Research Papers in Economics
Technology Shocks and Aggregate Fluctuations: How Well Does the RBC Model Fit Post-War US Data?
Jordi Galı́, Pau Rabanal

Paper Summary

The RBC model doesn't fit well with US data after World War II. Recent research shows that technology shocks don't play a big role in economic ups and downs. Instead, it's demand factors that drive the strong connection between output and labor input.

Related papers

Economics, Econometrics and Finance
3 years ago

Demand, Not Technology, Drives Economic Fluctuations in Postwar U.S. Data.

Economic Growth
Macroeconomic Analysis
Monetary Models
1 view
Economics, Econometrics and Finance
4 years ago

Nominal demand shocks drive US business cycles, productivity plays minor role

Macroeconomic Trends
Monetary Models
Economic Growth
1 view
Economics, Econometrics and Finance
4 years ago

Study reveals how firm risk impacts financial conditions and GDP

Macroeconomic Analysis
Monetary Models
Public Finance
1 view