20 Conclusions Theory suggests that final use sector where technology change occurs matters for its effects E.g., consumption-technology neutrality, 2
{"Image DocumentName": "ConclusionsTheory suggests that final use sector where technology change occurs matters for its effects.", "Image ImageDescription": "E.g., consumption-technology neutrality, 2-sector sticky-price model. Measure sectoral technical change using a new method that doesn\u2019t require relative prices. Gives similar long-run results, but very different short-run implications. Effects of sector-specific technology shocks look like business cycles. Equipment technology improvements reduce output, hours, investment, and consumption. Consumption technology improvement raise output, hours, investment, and consumption. 20.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}