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• Economics
• Copyright
• About the Author
• To My Family
• Abstract
• Acknowledgments
• Contents
• List of Figures
• List of Tables
• Econometric Packages Used
• Chapter 1 Introduction and Literature Review
• 1.0 Introduction
• 1.0a: The Research Questions
• 1.1: Literature Review
• 1.2 The Definitions and Explanations of Tfp and Rbc Models
• 1.2.1 Total Factor Productivity Definition
• 1.2.1a: The Model:
• 1.2.2 Rbc Model Definition
• 1.2.3 The Background
• 1.3. Rbc Model, Technology Shocks and Aggregate Fluctuations
• 1.3.1 The Solow Residual as Proxy to Technology
• 1.3.2 Labor – Hoarding, Productivity and True Technology Shocks
• 1.3.3: The Invariance Properties of Solow’s Productivity Residual
• 1.3.4 The Novelty of Rbc Models
• 1.3.5 Perceptions on Testing
• 1.3.6 The Impulse Mechanism
• 1.3.7 The Propagation Mechanism
• 1.3.8 Neutrality to Logarithm Level or First Difference Approach
• 1.4 Conclusions
• 1.6 The Aims and Scope of the Study
• 1.7 The Book Organisation
• Chapter 2 The Estimation of Aggregate Productivity and Aggregate Technology
• 2.0 Introduction
• 2.1 The Model Specification
• 2.2 The Aggregation over Firms Specification
• 2.3.1 The Implications of the Markup Terms
• 2.3.2. The Welfare Implication
• 2.4 Data Analysis and Methodology
• 2.4.1 Data
• 2.4.1a. Output: Nominal Output
• 2.4.1b Capital
• 2.4.2 The Method
• 2.4.3 Labour
• 2.4.4 Intermediate Input
• 2.4.5. The Instrumental Variables
• 2.5 The Empirical Results
• 2.6 Conclusions
• Appendix to Chapter 2
• Appendix A2.1
• Appendix A2.2: The Divisia Index
• Chapter 3 The Aggregate Productivity, Technology and Contractionary Effects
• 3.0 Introduction
• 3.1 The Implications for Real Business Cycles (rbc)
• 3.2. The Model Approach
• 3.3 Results
• 3.4 Conclusions
• Chapter 4 Technology Shocks and Aggregate Fluctuations
• 4.1 Introduction
• 4.2 The Model – First Approach (gali, (1999))
• 4.2.1 The Specification and Conditional Correlation Estimators
• 4.3 The Alternative Methodological Approach
• 4.3.1 Explanation of the Var Model
• 4.4 Data Analysis and Hours Stationarity Test
• 4.4.1 Data and Variables Definitions
• 4.4.2 Variables Definition – Bivariate Model
• 4.5 The Empirical Findings and Results
• 4.6 The Evidence from a Five-variable Model
• 4.6.1 Results
• 4.6.2 Additional Analysis
• 4.7 Conclusions
• Appendix to Chapter 4: Model Approach
• A4.2.1: The Households Factor:
• A4.2.2: The Firms Level Factor
• A4.2.3: The Monetary Policy Factor
• A4.2.4: The Equilibrium Factor
• Chapter 5 Technological Innovations in the Uk Private Business Economy: The Effects on Employment and Sectoral Level Estimations
• 5.0 Introduction
• 5.1 Technological Innovations
• 5.2 The Empirical Methodology
• 5.2.1 Data
• 5.3 Permanent Technology Shocks Identification
• 5.4 The Methodology
• 5.5 The Results
• 5.6 The Sticky Price Issue
• 5.7 Labor Productivity and Tfp Growth Shocks
• 5.4 Conclusions
• Appendix
• A5.1 Econometric Tests: Endogeneity
• A5.2.1: The Fixed Effect Models
• A5.3: The Testing For Endogeneity Methodology
• A5.3.1: The Testing Approach
• A5.3.2 Testing for Endogeneity of a Single Explanatory Variable
• Chapter 6 Concluding Remarks
• 6.1: The Empirical Research Findings
• 6.2 Summary Conclusions
• Bibliography
• Endnotes