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A dual measure of correlation between the Solow residual and output growth
Liu, Dandan1; Li, Rui2; Tan, Jijun3
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
DOI10.1007/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
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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.
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