technology shocks

What Does A Technology Shock Do? A VAR Analysis with Model-based Sign Restrictions

JEL codes: 
C30, E30
Version Date: 
Aug 2004

This Paper estimates the effects of technology shocks in VAR models of the United States, Japan and Germany, identified imposing restrictions on the sign of impulse responses. These restrictions are motivated with priors on the parameters of a class of DSGE models with both real and nominal frictions.

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