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Do Technology Shocks Drive Hours Up or Down?
The paper analyzes the robustness of the estimate of a positive productivity shock on hours to the presence of a possible unit root in hours. Findings indicate that a positive productivity shock has a negative effect on hours, as in Francis and
Ramey (2001), but the effect is much more short-lived, and disappears after two quarters.
Link
http://www.economics.emory.edu/Working_Papers/wp/pesavento_03_26_paper.pdf