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dc.contributor.authorCaporale, Guglielmo Mariaen_US
dc.contributor.authorGil-Alana, Luis A.en_US
dc.date.accessioned2012-08-24en_US
dc.date.accessioned2012-08-27T12:53:02Z-
dc.date.available2012-08-27T12:53:02Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/61409-
dc.description.abstractThis paper analyses monthly hours worked in the US over the sample period 1939m1 - 2011m10 using a cyclical long memory model; this is based on Gegenbauer processes and characterised by autocorrelations decaying to zero cyclically and at a hyperbolic rate along with a spectral density that is unbounded at a non-zero frequency. The reason for choosing this specification is that the periodogram of the hours worked series has a peak at a frequency away from zero. The empirical results confirm that this model works extremely well for hours worked, and it is then employed to analyse their relationship with technology shocks. It is found that hours worked increase on impact in response to a technology shock (though the effect dies away rapidly), consistently with Real Business Cycle (RBC) models.en_US
dc.language.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion Papers, German Institute for Economic Research, DIW Berlin 1200en_US
dc.subject.jelC32en_US
dc.subject.jelE24en_US
dc.subject.ddc330en_US
dc.subject.keywordHours workeden_US
dc.subject.keywordfractional integrationen_US
dc.subject.keywordcyclesen_US
dc.subject.keywordtechnology shocksen_US
dc.titlePersistence and cycles in US hours workeden_US
dc.typeWorking Paperen_US
dc.identifier.ppn722235038en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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