Trends in hours, balanced growth, and the role of technology in the business cycle
by Jordi Galí
"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.
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Trends in hours, balanced growth, and the role of technology in the business cycle
2005, National Bureau of Economic Research
in English
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Trends in hours, balanced growth, and the role of technology in the business cycle
2005, National Bureau of Economic Research
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in English
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Book Details
Edition 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.
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| December 13, 2020 | Edited by MARC Bot | import existing book |
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