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
We propose a model that generates an economic expansion in response to good news about future total ...
Yes. We construct a measure of aggregate technology change, controlling for varying utilization of c...
The author studies the effects of capital reallocation (the flow of productive capital across firms ...
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 ...
Has productivity growth been held back by impaired capital reallocation since the financial crisis? ...
This paper provides a theory of \u85nancial frictions as a transmission mechanism for prim-itive sho...
How has capital reallocation affected productivity growth since the financial crisis? For example, h...
This paper explores the booms and busts induced by news shocks in a model econ-omy with \u85nancial ...
We show that a model with knowledge capital can generate business cycles driven by expectations of f...
Together with a sense of entering a New Economy, the US experienced in the second half of the 1990s ...
We develop a two-sector DSGE model with financial intermediation to investigate the role of news as ...
This paper studies the impact of distortions in the access to international capital markets on compe...
This article studies the impact of distortions in the access to international capital markets on com...
We propose a model that generates an economic expansion in response to good news about future total ...
Yes. We construct a measure of aggregate technology change, controlling for varying utilization of c...
The author studies the effects of capital reallocation (the flow of productive capital across firms ...
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 ...
Has productivity growth been held back by impaired capital reallocation since the financial crisis? ...
This paper provides a theory of \u85nancial frictions as a transmission mechanism for prim-itive sho...
How has capital reallocation affected productivity growth since the financial crisis? For example, h...
This paper explores the booms and busts induced by news shocks in a model econ-omy with \u85nancial ...
We show that a model with knowledge capital can generate business cycles driven by expectations of f...
Together with a sense of entering a New Economy, the US experienced in the second half of the 1990s ...
We develop a two-sector DSGE model with financial intermediation to investigate the role of news as ...
This paper studies the impact of distortions in the access to international capital markets on compe...
This article studies the impact of distortions in the access to international capital markets on com...
We propose a model that generates an economic expansion in response to good news about future total ...
Yes. We construct a measure of aggregate technology change, controlling for varying utilization of c...
The author studies the effects of capital reallocation (the flow of productive capital across firms ...