A Skeptical Note on the Importance of Technology Shocks
Keyword(s):
This paper tests whether a real business cycle model can be built using a specific technological shock, a change in the depreciation rate, instead of an aggregate multiplicative shock. The model cannot duplicate standard business cycle facts.
2002 ◽
Vol 27
(1)
◽
pp. 1-28
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2021 ◽
pp. 1-15