Technology Shocks and Hours Worked: A Fractional Integration Perspective

Luis Gil-Alana and Antonio Moreno ()

No 03/06, Faculty Working Papers from School of Economics and Business Administration, University of Navarra

Abstract: Previous research has found that the response of hours worked to a technology shock crucially depends on whether the variable hours is assumed to be an I(0) or an I(1) variable ex-ante. In this paper we employ a multivariate fractionally integrated model which allows us to determine simultaneously the order of integration of hours worked and the response of hours to a technology shock. We find that hours fall on impact in response to a positive technology shock.

JEL-codes: C12 C22 C32 C51 E32 (search for similar items in EconPapers)
Date: 2006-02-02
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (3)

Published in Macroeconomic Dynamics 13 (5), 580-604 (2009)

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http://www.unav.edu/documents/10174/6546776/1147966515_wp0306.pdf (application/pdf)

Related works:
Journal Article: TECHNOLOGY SHOCKS AND HOURS WORKED: A FRACTIONAL INTEGRATION PERSPECTIVE (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:una:unccee:wp0306

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