; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Methods versus Substance: Measuring the Effects of Technology Shocks on Hours"; ; "batchuser@example.com"; "Ríos-Rull, José-Víctor", "Fuentes-Albero, Cristina, 1980-", "Santaeulalia-Llopis, Raul", "Kryshko, Maxym", "Schorfheide, Frank"; "Federal Reserve Bank of Minneapolis"; "In this paper, we employ both calibration and modern (Bayesian) estimation methods to assess the role of neutral and investment-specific technology shocks in generating fluctuations in hours. Using a neoclassical stochastic growth model, we show how answers are shaped by the identification strategies and not by the statistical approaches. The crucial parameter is the labor supply elasticity. Both a calibration procedure that uses modern assessments of the Frisch elasticity and the estimation procedures result in technology shocks accounting for 2% to 9% of the variation in hours worked in the data. We infer that we should be talking more about identification and less about the choice of particular quantitative approaches."^^; "2009-08-12"; "2019-06-04T16:12:08.937465523+00:00"^^; "https://doi.org/10.21034/sr.433"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Thu Nov 7 21:31:58 2019"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "656", "253", "705", "425", "689"; "Staff report (Federal Reserve Bank of Minneapolis. Research Department)"; "433"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; ; "Publication" . ; .