Add to ORKGIn this paper, we show that news on future technological improvement can trigger an immediate economic expansion in a model with financial friction on capital allocation. The arrivial of good news on future technology reduces such frictions and generates significant increase in current Total Factor Productivity via capital reallocation. This triggers an immediate boom in output, consumption, investment and hours worked. Our empirical evidence using firm-level data supports strongly the above mechanisms for news to affect current aggregate productivity
Together with a sense of entering a New Economy, the U.S. experienced in the second half of the 1990...
Yes. We construct a measure of aggregate technology change, controlling for varying utilization of c...
This thesis consists of three chapters that look at the business cycle and productivity implications...
In this paper, we show that news on future technological improvement can trigger an immediate econom...
This paper provides a theory of financial frictions as a transmission mechanism for primitive shocks...
This paper provides a theory on financial frictions as the engine of aggregate TFP fluctuations. In ...
This paper provides a theory of \u85nancial frictions as a transmission mechanism for prim-itive sho...
Has productivity growth been held back by impaired capital reallocation since the financial crisis? ...
This paper explores the booms and busts induced by news shocks in a model econ-omy with \u85nancial ...
How has capital reallocation affected productivity growth since the financial crisis? For example, h...
We show that a model with knowledge capital can generate business cycles driven by expectations of f...
This paper studies the impact of distortions in the access to international capital markets on compe...
We develop a two-sector DSGE model with financial intermediation to investigate the role of news as ...
We propose a model that generates an economic expansion in response to good news about future total ...
This article studies the impact of distortions in the access to international capital markets on com...
Together with a sense of entering a New Economy, the U.S. experienced in the second half of the 1990...
Yes. We construct a measure of aggregate technology change, controlling for varying utilization of c...
This thesis consists of three chapters that look at the business cycle and productivity implications...
In this paper, we show that news on future technological improvement can trigger an immediate econom...
This paper provides a theory of financial frictions as a transmission mechanism for primitive shocks...
This paper provides a theory on financial frictions as the engine of aggregate TFP fluctuations. In ...
This paper provides a theory of \u85nancial frictions as a transmission mechanism for prim-itive sho...
Has productivity growth been held back by impaired capital reallocation since the financial crisis? ...
This paper explores the booms and busts induced by news shocks in a model econ-omy with \u85nancial ...
How has capital reallocation affected productivity growth since the financial crisis? For example, h...
We show that a model with knowledge capital can generate business cycles driven by expectations of f...
This paper studies the impact of distortions in the access to international capital markets on compe...
We develop a two-sector DSGE model with financial intermediation to investigate the role of news as ...
We propose a model that generates an economic expansion in response to good news about future total ...
This article studies the impact of distortions in the access to international capital markets on com...
Together with a sense of entering a New Economy, the U.S. experienced in the second half of the 1990...
Yes. We construct a measure of aggregate technology change, controlling for varying utilization of c...
This thesis consists of three chapters that look at the business cycle and productivity implications...