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The Ins and Outs of Unemployment: An Analysis Conditional on Technology Shocks†

  1. Fabio Canova1,
  2. David Lopez-Salido2,
  3. Claudio Michelacci3,‡

Article first published online: 10 OCT 2012

DOI: 10.1111/j.1468-0297.2012.02548.x

Additional Information

How to Cite

Canova, F., Lopez-Salido, D. and Michelacci, C. (2012), The Ins and Outs of Unemployment: An Analysis Conditional on Technology Shocks. The Economic Journal. doi: 10.1111/j.1468-0297.2012.02548.x

Author Information

  1. 1

    UPF

  2. 2

    Federal Reserve Board

  3. 3

    CEMFI

  1. ‡

     Authors are also affiliated with CREI, BSGE, CREMeD, and CEPR; CEPR; and CEPR, respectively.

  1. †

     Corresponding author: Claudio Michelacci, CEMFI, Casado del Alisal 5, 28014, Madrid, Spain. Email: c.michelacci@cemfi.es.

  2. We thank Andrew Scott (the Editor), four anonymous referees, Marios Angeletos, Roc Armenter, Robert Barro, Olivier Blanchard, Jesus Fernandez-Villaverde, Robert Hall, Jim Nason, Ivan Werning, Tao Zha and participants of numerous seminars and conferences for comments and suggestions. We also thank Jason Cummins, Gianluca Violante, Robert Shimer, Pau Rabanal, Sergio Rebelo, Gary Solon and Ryan Michaels for kindly making their data available to us. The opinions expressed here are solely those of the authors and do not necessarily reflect the views of the Board of Governors of the Federal Reserve System or of anyone else associated with the Federal Reserve System. Canova acknowledges the financial support of the BGSE and of the Spanish Ministry of Science and Technology (grant ECO2009-08556). Claudio Michelacci acknowledges the financial support of the European Research Council (ERC Advanced Grant 293692). Previous versions of the paper have circulated under the title ‘The ins and out of unemployment: a conditional analysis’ and ‘Schumpeterian Technology Shocks’.

  3. ‡

     Authors are also affiliated with CREI, BSGE, CREMeD, and CEPR; CEPR; and CEPR, respectively.

Publication History

  1. Article first published online: 10 OCT 2012
  2. Accepted manuscript online: 6 JUL 2012 12:43PM EST
  3. Submitted: 22 October 2009, Accepted: 6 June 2012

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View Full Article with Supporting Information (HTML) Get PDF (655K)