A dual measure of correlation between the Solow residual and output growth

doi:10.1007/s11123-011-0215-5

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	A dual measure of correlation between the Solow residual and output growth
	Liu, Dandan 1; Li, Rui 2; Tan, Jijun 3
刊名	JOURNAL OF PRODUCTIVITY ANALYSIS
	2012-02
卷号	37 期号:1 页码:17-25
关键词	Real business cycle Technology shocks Solow residuals
ISSN号	0895-562X
DOI	10.1007/s11123-011-0215-5
英文摘要	In this paper, we measure U.S. technology shocks by implementing a dual approach, which is based on price data instead of aggregate quantity data. By doing so, we find the relative volatility of technology shocks and the correlation between output fluctuation and technology shocks to be much smaller than those revealed in most real-business-cycle (RBC) studies. Our results support the findings of Burside et al. (Eur Econ Rev 40:861-869, 1996), who showed that the correlation between technology shocks and output is exaggerated in the RBC literature. This suggests that one should examine other sources of fluctuations for a better understanding of the business cycle phenomena.
WOS研究方向	Business & Economics ; Mathematical Methods In Social Sciences
语种	英语
出版者	SPRINGER
WOS记录号	WOS:000300079400003
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/2171]
专题	上海财经大学
通讯作者	Liu, Dandan
作者单位	1.Kent State Univ, Dept Econ, Kent, OH 44242 USA; 2.Beihang Univ, Sch Econ & Management, Beijing 100191, Peoples R China; 3.Shanghai Univ Finance & Econ, Sch Econ, Shanghai, Peoples R China
推荐引用方式 GB/T 7714	Liu, Dandan,Li, Rui,Tan, Jijun. A dual measure of correlation between the Solow residual and output growth[J]. JOURNAL OF PRODUCTIVITY ANALYSIS,2012,37(1):17-25.
APA	Liu, Dandan,Li, Rui,&Tan, Jijun.(2012).A dual measure of correlation between the Solow residual and output growth.JOURNAL OF PRODUCTIVITY ANALYSIS,37(1),17-25.
MLA	Liu, Dandan,et al."A dual measure of correlation between the Solow residual and output growth".JOURNAL OF PRODUCTIVITY ANALYSIS 37.1(2012):17-25.