On the Role of Technology Shocks as a Source of Business Cycles: Some New Evidence
提供新证据支持Gali(1999)的结论，即技术的外生变化对经济周期的作用非常有限，并在欧元区数据中验证了类似发现。
I provide some new evidence that reinforces the conclusion in Gali (1999) that exogenous variations in technology play a very limited role, if any, as sources of the business cycle. First, I provide evidence that supports the identification of technology shocks proposed in that paper. Secondly, I show that similar findings obtain when the same approach is implemented for the euro area, using a newly available data set.