The effects of technology shocks on hours and output: a robustness analysis
分析中性和投资特定技术冲击对工时和产出的影响，发现工时对中性冲击下降、对投资特定冲击上升，且中性冲击解释工时方差小但产出方差大。
Abstract We analyze the effects of neutral and investment‐specific technology shocks on hours and output. Long cycles in hours are removed in a variety of ways. Hours robustly fall in response to neutral shocks and robustly increase in response to investment‐specific shocks. The percentage of the variance of hours (output) explained by neutral shocks is small (large); the opposite is true for investment‐specific shocks. ‘ News shocks ’ are uncorrelated with the estimated technology shocks. Copyright © 2009 John Wiley & Sons, Ltd.