We investigate the effects of predictable changes in TFP at the sectoral level. Our findings can reconcile the seemingly contradictory findings in the literature. Shocks to predictable changes in investment-sector TFP are also found important for US business cycle fluctuations. (C) 2014 Elsevier B.V. All rights reserved
International audienceThis paper uses aggregate Japanese data and sectoral US data to explore the pr...
We study the impact of distortions in the investment goods sector on aggregate total factor producti...
Includes vita.I estimate the decomposition of total factor productivity (TFP) shocks by two sectors:...
We document in the US data: (1) The dominant predictable component of investment-sector TFP is its l...
We document a strong similarity in the macroeconomic effects of consumption-specific and investment ...
We document a strong similarity in the macroeconomic effects of consumption-specific and investment ...
We propose a model that generates an economic expansion in response to good news about future total ...
Abstract of associated article: Technological innovations originating in the capital–producing secto...
This paper provides a theory on financial frictions as the engine of aggregate TFP fluctuations. In ...
Traditionally, shocks to total factor productivity (TFP) are considered exogenous and the response o...
Abstract: Theory implies that the economy responds differently to technology shocks that affect the...
We study a multi-sector model of growth with differences in TFP growth rates across sectors and deri...
This paper investigates the relationship between the structure of the business cycle and total facto...
We show that the joint behavior of stock prices and TFP favors a view of business cycles driven larg...
International audienceThis paper uses aggregate Japanese data and sectoral US data to explore the pr...
International audienceThis paper uses aggregate Japanese data and sectoral US data to explore the pr...
We study the impact of distortions in the investment goods sector on aggregate total factor producti...
Includes vita.I estimate the decomposition of total factor productivity (TFP) shocks by two sectors:...
We document in the US data: (1) The dominant predictable component of investment-sector TFP is its l...
We document a strong similarity in the macroeconomic effects of consumption-specific and investment ...
We document a strong similarity in the macroeconomic effects of consumption-specific and investment ...
We propose a model that generates an economic expansion in response to good news about future total ...
Abstract of associated article: Technological innovations originating in the capital–producing secto...
This paper provides a theory on financial frictions as the engine of aggregate TFP fluctuations. In ...
Traditionally, shocks to total factor productivity (TFP) are considered exogenous and the response o...
Abstract: Theory implies that the economy responds differently to technology shocks that affect the...
We study a multi-sector model of growth with differences in TFP growth rates across sectors and deri...
This paper investigates the relationship between the structure of the business cycle and total facto...
We show that the joint behavior of stock prices and TFP favors a view of business cycles driven larg...
International audienceThis paper uses aggregate Japanese data and sectoral US data to explore the pr...
International audienceThis paper uses aggregate Japanese data and sectoral US data to explore the pr...
We study the impact of distortions in the investment goods sector on aggregate total factor producti...
Includes vita.I estimate the decomposition of total factor productivity (TFP) shocks by two sectors:...