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The Response of Hours to a Technology Shock: Evidence Based on Direct Measures of Technology


Lawrence J. Christiano


Northwestern University; Federal Reserve Bank of Cleveland; Federal Reserve Bank of Chicago; Federal Reserve Bank of Minneapolis; National Bureau of Economic Research (NBER)

Martin Eichenbaum


Northwestern University; National Bureau of Economic Research (NBER)

Robert Vigfusson


Federal Reserve Board - Trade and Quantitative Studies
December 2003

FRB International Finance Discussion Paper No. 790

Abstract:     
We investigate what happens to hours worked after a positive shock to technology, using the aggregate technology series computed in Basu, Fernald and Kimball (1999). We conclude that hours worked rise after such a shock.

Number of Pages in PDF File: 16

Keywords: Productivity, long-run identifying assumption, Granger-causality

JEL Classification: E24, E32, O3

working papers series


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Date posted: January 25, 2004  

Suggested Citation

Christiano, Lawrence J., Eichenbaum, Martin and Vigfusson, Robert John, The Response of Hours to a Technology Shock: Evidence Based on Direct Measures of Technology (December 2003). FRB International Finance Discussion Paper No. 790. Available at SSRN: http://ssrn.com/abstract=488903 or http://dx.doi.org/10.2139/ssrn.488903

Contact Information

Lawrence J. Christiano
Northwestern University ( email )
2003 Sheridan Road
Evanston, IL 60208
United States
847-491-8231 (Phone)
847-491-7001 (Fax)
Federal Reserve Bank of Cleveland
East 6th & Superior
Cleveland, OH 44101-1387
United States
Federal Reserve Bank of Chicago
230 South LaSalle Street
Chicago, IL 60604
United States
Federal Reserve Bank of Minneapolis
90 Hennepin Avenue
Minneapolis, MN 55480
United States
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Martin Eichenbaum
Northwestern University ( email )
2003 Sheridan Road
Evanston, IL 60208
United States
847-491-8232 (Phone)
847-491-7001 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Robert John Vigfusson (Contact Author)
Federal Reserve Board - Trade and Quantitative Studies ( email )
20th St. and Constitution Ave.
Washington, DC 20551
United States
Feedback to SSRN (Beta)


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