G2TT
来源类型Discussion paper
规范类型论文
来源IDDP7962
DP7962 Technology-Hours Redux: Tax Changes and the Measurement of Technology Shocks
Morten Ravn; Karel Mertens
发表日期2010-08-01
出版年2010
语种英语
摘要A number of empirical studies find that permanent technological improvements give rise to a temporary drop in hours worked. This finding seriously questions the technology-driven business cycle hypothesis. In this paper we argue that it is important to control for permanent changes in taxes, which invalidate the standard long run identifying assumptions for technology shocks and induce low frequency fluctuations in hours worked. Using the narrative data of Romer and Romer (2010), we find that tax shocks have significant long run effects on aggregate hours, output and labor productivity. We also find that, after controlling for tax shocks, permanent shocks to labor productivity generate short run increases in hours worked and are an important source of fluctuations in US output.
主题International Macroeconomics
关键词Business cycles Hours worked Tax shocks Technology shocks
URLhttps://cepr.org/publications/dp7962
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/536796
推荐引用方式
GB/T 7714
Morten Ravn,Karel Mertens. DP7962 Technology-Hours Redux: Tax Changes and the Measurement of Technology Shocks. 2010.
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