Trends in hours, balanced growth, and the role of technology in the business cycle
By: Jordi Gali.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 11130; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 11130.
Publisher: National Bureau of Economic Research
Published: 2005
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Hours of labor -- Mathematical models.; Technology -- Mathematical models.; Labor productivity -- Effect of technological innovations on -- Mathematical models.; Business cycles -- Mathematical models.
Description: "The present paper revisits a property embedded in most dynamic macroeconomic models: the stationarity of hours worked.  First, I argue that, contrary to what is often believed, there are many reasons why hours could be nonstationary in those models, while preserving the property of balanced growth.  Second, I show that the postwar evidence for most industrialized economies is clearly at odds with the assumption of stationary hours per capita.  Third, I examine the implications of that evidence for the role of technology as a source of economic fluctuations in the G7 countries"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 2/25/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.