Are technology improvements contractionary?
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Are technology improvements contractionary?

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Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

Subjects:

  • Technological innovations -- Economic aspects.,
  • Investments.,
  • Input-output analysis.

Book details:

Edition Notes

StatementSusanto Basu, John Fernald, Miles Kimball.
SeriesNBER working paper series ;, working paper 10592, Working paper series (National Bureau of Economic Research : Online) ;, working paper no. 10592.
ContributionsFernald, John G., National Bureau of Economic Research.
Classifications
LC ClassificationsHB1
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL3476807M
LC Control Number2005616349

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Downloadable! Yes. We construct a measure of aggregate technology change, controlling for imperfect competition, varying utilization of capital and labor, and aggregation effects. On impact, when technology improves, input use falls sharply, and output may fall slightly. With a lag of several years, inputs return to normal and output rises strongly. On impact, when technology improves, input use and nonresidential investment fall sharply. Output changes little. With a lag of several years, inputs and investment return to normal and output rises . On impact, when technology improves, input use and nonresidential investment fall sharply. Output changes little. With a lag of several years, inputs and investment return to .   Technology has had a very disruptive effect on the book publishing and retailing industries, but has it also given the book a new lease of life?

VOL. 96 NO. 5 BASU ET AL.: ARE TECHNOLOGY IMPROVEMENTS CONTRACTIONARY? cially durable consumption and residential in- vestment) rises on impact and rises further with a lag. Thus, after a year or two, the response to our estimated technology series more or less matches the predictions of the standard, fric- tionless RBC model. Dueling neural networks. Artificial embryos. AI in the cloud. Welcome to our annual list of the 10 technology advances we think will shape the way we work and live now and for years to come. Construction Technology covers the basic elements of substructure (site works, setting out and foundations) and superstructure (flooring and roofs, simple finishes, fittings and fixtures), as well as basic services such as water, gas electricity and drainage, and considers low-rise framed industrial and commercial buildings. An ideal reference for students on construction crafts courses, this 5/5(1).   There are a lot of debates about the new technologies, about advantages and disadvantages brought by these information and communication technologies. There are pros and cons, but what is more important is how the economy will be shaped by the adoption of this technology and how the institutions are going to take advantage of : Răzvan Șerbu.