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Jijun Tan
Shanghai University of Finance and Economics
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#1Dandan Liu (KSU: Kent State University)H-Index: 4
#2Rui Li (Beihang University)H-Index: 5
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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 s...
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