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dc.contributor.authorCaporale, Guglielmo Mariaen
dc.contributor.authorGil-Alana, Luis A.en
dc.date.accessioned2012-08-24-
dc.date.accessioned2012-08-27T12:53:02Z-
dc.date.available2012-08-27T12:53:02Z-
dc.date.issued2012-
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
dc.language.isoengen
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen
dc.relation.ispartofseries|aDIW Discussion Papers |x1200en
dc.subject.jelC32en
dc.subject.jelE24en
dc.subject.ddc330en
dc.subject.keywordHours workeden
dc.subject.keywordfractional integrationen
dc.subject.keywordcyclesen
dc.subject.keywordtechnology shocksen
dc.titlePersistence and cycles in US hours worked-
dc.typeWorking Paperen
dc.identifier.ppn722235038en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:diw:diwwpp:dp1200en

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