The article explores the impact of technology and nontechnology shocks on business cycles. By analyzing data from the U.S. and Japan, the researchers found that nontechnology shocks, like changes in capital-labor ratio, can have a significant effect on the economy. In Japan, these shocks played a key role in the country's economic struggles during the "lost decade". Additionally, the study highlights the importance of considering lower-frequency movements in labor data when analyzing business cycles.