Understanding the puzzling effects of technology shocks
By: by Pengfei Wang and Yi Wen.
Contributors: Wen, Yi.; Federal Reserve Bank of St. Louis.
Series: Working paper -- 2007-018A; Working paper (Federal Reserve Bank of St. Louis : Online) -- 2007-018A.
Publisher: Federal Reserve Bank of St. Louis
Published: 2007
Place of publication: [St. Louis, Mo.]
Language: eng
Format: Electronic resource
Description: "Under aggregate technology shocks, both aggregate inputs and sectorial inputs decline initially and then rise permanently.  However, under sector-specific technology shocks, sectorial inputs decline permanently.  In addition, sectorial output is very responsive to aggregate technology shocks but not so to sector-specific technology shocks.  We show that a flexible-price RBC model with firm entry and exit is consistent with these stylized facts"--Federal Reserve Bank of St. Louis web site.
Notes: Title from PDF file as viewed on 4/19/2007.

Includes bibliographical references.

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