Do Technology Shocks Lead to a Fall in Total Hours Worked?
通过引入资本收入税、劳动囤积和工作场所休闲等理论，提出其他冲击也可能长期影响劳动生产率，并用美国数据发现技术冲击使总工作时间呈驼峰形响应，初始接近零后轻微上升。
This paper contributes to the debate initiated by Gali in 1999. I provide a theory with capital income taxation, labor hoarding as well as long-run shifts in the social attitudes to the workplace-modelled as leisure at the workplace-to argue that there are other shocks that may influence labor productivity in the long run. I introduce and show it to be superior to long-run identification or standard short-run identification, when applied to artificial data. With U.S. data and medium-run identification, I find the robust result that technology shocks lead to a hump-shaped response of total hours worked, which is mildly positive following a near-zero initial response. Copyright (c) 2004 The European Economic Association.