156
Views
0
CrossRef citations to date
0
Altmetric
Original Articles

Broken trend stationarity of hours worked

Pages 3955-3964 | Published online: 27 Jun 2011

References

  • Andrews , DWK and Ploberger , W . 1994 . Optimal tests when a nuisance parameter is present only under the alternative . Econometrica , 62 : 1383 – 414 .
  • Ayat , L and Burridge , P . 2000 . Unit root tests in the presence of uncertainty about the nonstochastic trend . Journal of Econometrics , 95 : 71 – 96 .
  • Basu , S , Fernald , JG and Kimball , MS . 2006 . Are technology improvements contractionary? . American Economic Review , 96 : 1418 – 48 .
  • Blanchard , O and Quah , D . 1989 . The dynamic effects of aggregate demand and supply disturbances . American Economic Review , 79 : 655 – 73 .
  • Canova , F , López-Salido , D and Michelacci , C . 2010 . The effects of technology shocks on hours and output: a robustness analysis . Journal of Applied Econometrics , 25 : 755 – 73 .
  • Carrión-i-Silvestre , JL , Kim , D and Perron , P . 2009 . GLS-based unit root tests with multiple structural breaks both under the null and the alternative hypotheses . Econometric Theory , 25 : 1754 – 92 .
  • Chari , VV , Kehoe , PJ and McGrattan , ER . 2008 . Are structural VARs with long-run restrictions useful in developing business cycle theory? . Journal of Monetary Economics , 55 : 1337 – 52 .
  • Christiano, L. J., Eichenbaum, M. and Vigfusson, R. (2003) What happens after a technology shock?, NBER Working Paper No. 9819, National Bureau of Economic Research
  • Elliott , G , Rothenberg , TJ and Stock , JH . 1996 . Efficient tests for an autoregressive unit root . Econometrica , 64 : 813 – 36 .
  • Erceg , C , Guerrieri , L and Gust , C . 2005 . Can long-run restrictions identify technology shocks? . Journal of the European Economic Association , 3 : 1237 – 78 .
  • Fernald , J . 2007 . Trend breaks, long-run restrictions, and contractionary technology improvements . Journal of Monetary Economics , 54 : 2467 – 85 .
  • Féve , P and Guay , A . 2009 . The response of hours to a technology shock: a two-step structural VAR approach . Journal of Money, Credit and Banking , 41 : 987 – 1013 .
  • Fisher , J . 2006 . The dynamic effects of neutral and investment-specific technology shocks . Journal of Political Economy , 114 : 413 – 51 .
  • Francis , N and Ramey , VA . 2005 . Is the technology-driven real business cycle hypothesis dead? Shocks and aggregate fluctuations revisited . Journal of Monetary Economics , 52 : 1379 – 99 .
  • Francis , N and Ramey , VA . 2009 . Measures of per capita hours and their implications for the technology-hours debate . Journal of Money, Credit and Banking , 41 : 1071 – 97 .
  • Galí , J . 1999 . Technology, employment, and the business cycle: do technology shocks explain aggregate fluctuations? . American Economic Review , 89 : 249 – 71 .
  • Galí, J. and Rabanal, P. (2005) Technology shocks and aggregate fluctuations: how well does the real business cycle model fit postwar US data?, NBER Macroeconomics Annual, 19, 225–88
  • Gil-Alana , LA and Moreno , A . 2009 . Technology shocks and hours worked: a fractional integration perspective . Macroeconomic Dynamics , 13 : 580 – 604 .
  • Hall , P . 1992 . The Bootstrap and Edgeworth Expansion , New York, , USA : Springer-Verlag .
  • Harvey, D. I., Leybourne, S. J. and Taylor, A. M. R. (2008) Testing for the unit roots and the impact of quadratic trends, with an application to relative primary commodity prices, Granger Centre Discussion Paper No. 08/04, Granger Centre University of Nottingham, Nottingham
  • Harvey , DI , Leybourne , SJ and Taylor , AMR . 2009 . Simple, robust, and powerful tests of the breaking trend hypothesis . Econometric Theory , 25 : 995 – 1029 .
  • Kappler , M . 2009 . Do hours worked contain a unit root? Evidence from panel data . Empirical Economics , 36 : 531 – 55 .
  • Kejriwal , M and Perron , P . 2010 . A sequential procedure to determine the number of breaks in trend with an integrated or stationary noise component . Journal of Time Series Analysis , 31 : 305 – 28 .
  • Lütkepohl , H and Krätzig , M . 2004 . Applied Time Series Econometrics , New York, , USA : Cambridge University Press .
  • Ng , S and Perron , P . 2001 . Lag length selection and the construction of unit root tests with good size and power . Econometrica , 69 : 1519 – 54 .
  • Ng , S and Vogelsang , TJ . 2002 . Analysis of vector autorregressions in the presence of shifts in mean . Econometric Reviews , 21 : 353 – 81 .
  • Perron , P . 1989 . The great crash, the oil price shock, and the unit root hypothesis . Econometrica , 57 : 1361 – 401 .
  • Perron , P . 2006 . “ Dealing with structural breaks ” . In Palgrave Handbook of Econometrics, Econometric Theory , Edited by: Patterson , K. and Mills , T. C. Vol. 1 , 278 – 352 . Basingstoke : Palgrave Macmillan .
  • Perron , P and Qu , Z . 2007 . A simple modification to improve the finite sample properties of Ng and Perron's unit root tests . Economics Letters , 94 : 12 – 19 .
  • Perron , P and Yabu , T . 2009 . Testing for shifts in trend with an integrated or stationary noise component . Journal of Business and Economics Statistics , 27 : 369 – 96 .
  • Qu , Z and Perron , P . 2007 . Estimating and testing structural changes in multivariate regressions . Econometrica , 75 : 459 – 502 .
  • Shields , G and Shields , MP . 2008 . Four themes to explain the rise in hours worked in the US . Applied Economics Letters , 15 : 1163 – 6 .
  • Vogelsang, T. (2001) Tests for a shift in trend when serial correlation is of unknown form, mimeo, Department of Economics, Cornell University
  • Whelan , KT . 2009 . Technology shocks and hours worked: checking for robust conclusions . Journal of Macroeconomics , 31 : 231 – 9 .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.