TY  - JOUR
AU  - Gali,Jordi
AU  - Rabanal,Pau
TI  - Technology Shocks and Aggregate Fluctuations: How Well Does the RBS Model Fit Postwar U.S. Data?
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 10636
PY  - 2004
Y2  - July 2004
UR  - http://www.nber.org/papers/w10636
L1  - http://www.nber.org/papers/w10636.pdf
N1  - Author contact info:
Jordi Gali
Centre de Recerca en Economia Internacional (CREI)
Ramon Trias Fargas 25
08005 Barcelona
SPAIN
Tel: 011-34-93-5422754
Fax: 011-34-93-5421860
E-Mail: jgali@crei.cat

Pau Rabanal
International Monetary Fund
E-Mail: prabanal@imf.org
AB  - Our answer: not so well. We reach that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.
ER  -