What (really) accounts for the fall in hours after a technology shock? / (Record no. 2738583)

MARC details
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020 ## - INTERNATIONAL STANDARD BOOK NUMBER
International Standard Book Number 1475580576
Qualifying information (electronic bk.)
020 ## - INTERNATIONAL STANDARD BOOK NUMBER
International Standard Book Number 9781475580570
Qualifying information (electronic bk.)
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International Standard Book Number 1475505612
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International Standard Book Number 9781475505610
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International Standard Book Number 9781475552362
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System control number (OCoLC)808636008
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037 ## - SOURCE OF ACQUISITION
Source of stock number/acquisition 00013468
050 #4 - LIBRARY OF CONGRESS CALL NUMBER
Classification number HG3881.5.I58
Item number W67 No. 12/211eb
072 #7 - SUBJECT CATEGORY CODE
Subject category code BUS
Subject category code subdivision 027000
Source bisacsh
082 04 - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number 332.152
Edition number 23
049 ## - LOCAL HOLDINGS (OCLC)
Holding library MAIN
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name Rebei, Nooman,
Dates associated with a name 1972-
Relator term author.
9 (RLIN) 372836
245 10 - TITLE STATEMENT
Title What (really) accounts for the fall in hours after a technology shock? /
Statement of responsibility, etc prepared by Nooman Rebei.
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Place of publication, distribution, etc [Washington, D.C.] :
Name of publisher, distributor, etc International Monetary Fund,
Date of publication, distribution, etc ©2012.
300 ## - PHYSICAL DESCRIPTION
Extent 1 online resource (41 pages)
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490 1# - SERIES STATEMENT
Series statement IMF working paper ;
Volume number/sequential designation WP/12/211
500 ## - GENERAL NOTE
General note Title from PDF title page (IMF Web site, viewed Aug. 29, 2012).
520 ## - SUMMARY, ETC.
Summary, etc The paper asks how state of the art DSGE models that account for the conditional response of hours following a positive neutral technology shock compare in a marginal likelihood race. To that end we construct and estimate several competing small-scale DSGE models that extend the standard real business cycle model. In particular, we identify from the literature six different hypotheses that generate the empirically observed decline in worked hours after a positive technology shock. These models alternatively exhibit (i) sticky prices; (ii) firm entry and exit with time to build; (iii) habit in consumption and costly adjustment of investment; (iv) persistence in the permanent technology shocks; (v) labor market friction with procyclical hiring costs; and (vi) Leontief production function with labor-saving technology shocks. In terms of model posterior probabilities, impulse responses, and autocorrelations, the model favored is the one that exhibits habit formation in consumption and investment adjustment costs. A robustness test shows that the sticky price model becomes as competitive as the habit formation and costly adjustment of investment model when sticky wages are included.
504 ## - BIBLIOGRAPHY, ETC. NOTE
Bibliography, etc Includes bibliographical references.
500 ## - GENERAL NOTE
General note "Institute for Capacity Development Department."
500 ## - GENERAL NOTE
General note "August 2012."
505 0# - FORMATTED CONTENTS NOTE
Formatted contents note Cover; Contents; I. Introduction; II. Stylized facts and the RBC model; A. Stylized facts; Figures; 1. SVAR IRFs following a technology shock; B. The benchmark RBC model; 1. Representative household's and firm's problems; 2. Impulse-response functions; III. Alternative models; A. The sticky price (SP) model; 2. Impulse-response functions: SVAR versus the standard RBC model; B. The entry-exit (EE) model; 3. Impulse-response functions: SVAR versus the SP model; C. The habit in consumption (HC) model; 4. Impulse-response functions: SVAR versus the EE model.
505 8# - FORMATTED CONTENTS NOTE
Formatted contents note 5. Impulse-response functions: SVAR versus the HC modelD. The persistent technology shock (PT) model; E. The labor friction (LF) model; 6. Impulse-response functions: SVAR versus the PT model; F. The Leontief production (LP) model; 7. Impulse-response functions: SVAR versus the LF model; IV. Full information estimation and model comparison; 8. Impulse-response functions: SVAR versus the LP model; A. Priors and data; Tables; 1. Prior distributions of parameters; B. Estimation results and model comparison; 2. Parameter Estimation Results; C. Impulse-response functions.
505 8# - FORMATTED CONTENTS NOTE
Formatted contents note 9. IRFs of the Alternative Estimated ModelsD. Autocorrelation functions; 10. Autocorrelations of the Alternative Models; 3. Autocorrelation statistics; V. Robustness; 4. Estimation results with sticky wages; 11. Autocorrelations: SP versus HC model; VI. Conclusion; References.
590 ## - LOCAL NOTE (RLIN)
Local note eBooks on EBSCOhost
Provenance (VM) [OBSOLETE] EBSCO eBook Subscription Academic Collection - Worldwide
650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Prices
General subdivision Econometric models.
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Topical term or geographic name as entry element Business cycles
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Topical term or geographic name as entry element Prix
General subdivision Modèles économétriques.
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650 #6 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Cycles économiques
General subdivision Modèles économétriques.
9 (RLIN) 891850
650 #7 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element BUSINESS & ECONOMICS
General subdivision Finance.
Source of heading or term bisacsh
9 (RLIN) 51787
650 #7 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Business cycles
General subdivision Econometric models.
Source of heading or term fast
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Uniform title IMF working paper ;
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Holdings
Withdrawn status Lost status Damaged status Not for loan Collection code Home library Current library Date acquired Total Checkouts Date last seen Price effective from Koha item type
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