Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?
E266785
"Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?" is an influential macroeconomics paper by Jordi Galí that empirically investigates how technology shocks affect employment and output over the business cycle.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations? canonical | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T2440920 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations? Context triple: [Jordi Galí, hasNotableWork, Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?]
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A.
Business Cycles in the United States of America, 1919–1932
"Business Cycles in the United States of America, 1919–1932" is an influential econometric study by Jan Tinbergen that analyzes and models U.S. economic fluctuations during the interwar period.
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B.
Frisch elasticity of labor supply
The Frisch elasticity of labor supply is an economic measure that captures how responsive individuals’ labor supply is to changes in wages when their expected lifetime wealth is held constant.
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C.
the "Volcker shock" in U.S. monetary policy
The "Volcker shock" in U.S. monetary policy refers to the dramatic interest rate hikes and tight monetary stance of the early 1980s aimed at breaking entrenched inflation, which triggered a deep recession but ultimately restored price stability and reshaped central banking practice.
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D.
Introduction to Modern Economic Growth
Introduction to Modern Economic Growth is a comprehensive graduate-level textbook that rigorously develops the theory and empirics of long-run economic growth, with a strong emphasis on microfoundations and institutional factors.
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E.
American Economic Journal: Macroeconomics
American Economic Journal: Macroeconomics is a peer-reviewed academic journal focusing on research in macroeconomics, including topics such as economic growth, business cycles, monetary and fiscal policy, and international macroeconomics.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations? Target entity description: "Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?" is an influential macroeconomics paper by Jordi Galí that empirically investigates how technology shocks affect employment and output over the business cycle.
-
A.
Business Cycles in the United States of America, 1919–1932
"Business Cycles in the United States of America, 1919–1932" is an influential econometric study by Jan Tinbergen that analyzes and models U.S. economic fluctuations during the interwar period.
-
B.
Frisch elasticity of labor supply
The Frisch elasticity of labor supply is an economic measure that captures how responsive individuals’ labor supply is to changes in wages when their expected lifetime wealth is held constant.
-
C.
the "Volcker shock" in U.S. monetary policy
The "Volcker shock" in U.S. monetary policy refers to the dramatic interest rate hikes and tight monetary stance of the early 1980s aimed at breaking entrenched inflation, which triggered a deep recession but ultimately restored price stability and reshaped central banking practice.
-
D.
Introduction to Modern Economic Growth
Introduction to Modern Economic Growth is a comprehensive graduate-level textbook that rigorously develops the theory and empirics of long-run economic growth, with a strong emphasis on microfoundations and institutional factors.
-
E.
American Economic Journal: Macroeconomics
American Economic Journal: Macroeconomics is a peer-reviewed academic journal focusing on research in macroeconomics, including topics such as economic growth, business cycles, monetary and fiscal policy, and international macroeconomics.
- F. None of above. chosen
Statements (39)
| Predicate | Object |
|---|---|
| instanceOf |
academic paper
ⓘ
macroeconomics paper ⓘ |
| analyzes |
effects of technology shocks on employment
ⓘ
effects of technology shocks on output ⓘ short-run response of hours worked to technology shocks ⓘ |
| approach |
empirical analysis
ⓘ
structural vector autoregression ⓘ |
| author | Jordi Galí ⓘ |
| citedFor |
evidence that hours worked fall after positive technology shocks
ⓘ
methodology for identifying technology shocks using long-run restrictions ⓘ |
| citedIn |
literature on DSGE model estimation
ⓘ
literature on business cycle accounting ⓘ |
| conclusion |
Hours worked tend to fall in the short run after a positive technology shock
ⓘ
Technology shocks do not appear to be the main driving force behind business cycle fluctuations in hours and output ⓘ |
| contrastsWith | real business cycle theory predictions ⓘ |
| contribution |
introduced influential identification strategy for technology shocks
ⓘ
provided empirical evidence against technology shocks as the sole driver of business cycles ⓘ |
| examines |
co-movement of output and hours worked
ⓘ
impulse response functions to identified technology shocks ⓘ productivity measures as proxies for technology ⓘ |
| field |
business cycle theory
ⓘ
empirical macroeconomics ⓘ macroeconomics ⓘ |
| focusesOn | postwar U.S. data ⓘ |
| hasImpactOn |
interpretation of productivity shocks in macro models
ⓘ
policy discussions about sources of economic fluctuations ⓘ |
| influencedDebate |
importance of demand shocks in macroeconomic fluctuations
ⓘ
role of technology shocks in business cycles ⓘ validity of real business cycle models ⓘ |
| language | English ⓘ |
| mainTopic |
aggregate fluctuations
ⓘ
business cycle fluctuations ⓘ employment dynamics ⓘ technology shocks ⓘ |
| relatedTo |
New Keynesian economics
ⓘ
surface form:
New Keynesian macroeconomics
sticky price models ⓘ |
| researchQuestion | Do technology shocks explain aggregate fluctuations? ⓘ |
| usesMethod |
SVAR identification of technology shocks
ⓘ
long-run restrictions ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations? Description of subject: "Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?" is an influential macroeconomics paper by Jordi Galí that empirically investigates how technology shocks affect employment and output over the business cycle.
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
Jordi Galí
→
hasNotableWork
→
Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?
ⓘ