We document a strong similarity in the macroeconomic effects of consumption-specific and investment specific TFP news shocks. This co-linearity suggests a diffusion channel of technological innovations from the investment to the consumption sector that forecast future changes in aggregate TFP. This finding connects two views of the literature on news shocks: aggregate TFP news and investment specific news
We study the Beaudry and Portier (2006)-hypothesis of delayed-technology diffusion and news-driven b...
Abstract: Theory implies that the economy responds differently to technology shocks that affect the...
There has been recent interest in the implications of expectations about changes in future fundament...
We document a strong similarity in the macroeconomic effects of consumption-specific and investment ...
We investigate the effects of predictable changes in TFP at the sectoral level. Our findings can rec...
We document in the US data: (1) The dominant predictable component of investment-sector TFP is its l...
When both Investment-Specific Technology (IST) news and Total Factor Productivity (TFP) news shocks ...
Abstract of associated article: Technological innovations originating in the capital–producing secto...
Includes vita.I estimate the decomposition of total factor productivity (TFP) shocks by two sectors:...
We examine the dynamic effects and empirical role of TFP news shocks in the context of frictions in ...
We examine the dynamic effects and empirical role of TFP news shocks in the context of frictions in ...
Inventories are an important, highly volatile and forward looking component of the business cycle, ...
We show that the joint behavior of stock prices and TFP favors a view of business cycles driven larg...
We provide robust evidence that news shocks about future investment-specific technology (IST) consti...
The hypothesis that business cycles are driven by changes in expectations about future fundamentals ...
We study the Beaudry and Portier (2006)-hypothesis of delayed-technology diffusion and news-driven b...
Abstract: Theory implies that the economy responds differently to technology shocks that affect the...
There has been recent interest in the implications of expectations about changes in future fundament...
We document a strong similarity in the macroeconomic effects of consumption-specific and investment ...
We investigate the effects of predictable changes in TFP at the sectoral level. Our findings can rec...
We document in the US data: (1) The dominant predictable component of investment-sector TFP is its l...
When both Investment-Specific Technology (IST) news and Total Factor Productivity (TFP) news shocks ...
Abstract of associated article: Technological innovations originating in the capital–producing secto...
Includes vita.I estimate the decomposition of total factor productivity (TFP) shocks by two sectors:...
We examine the dynamic effects and empirical role of TFP news shocks in the context of frictions in ...
We examine the dynamic effects and empirical role of TFP news shocks in the context of frictions in ...
Inventories are an important, highly volatile and forward looking component of the business cycle, ...
We show that the joint behavior of stock prices and TFP favors a view of business cycles driven larg...
We provide robust evidence that news shocks about future investment-specific technology (IST) consti...
The hypothesis that business cycles are driven by changes in expectations about future fundamentals ...
We study the Beaudry and Portier (2006)-hypothesis of delayed-technology diffusion and news-driven b...
Abstract: Theory implies that the economy responds differently to technology shocks that affect the...
There has been recent interest in the implications of expectations about changes in future fundament...
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