Sectoral TFP News Shocks

Christoph Gortz, John D. Tsoukalas

Research output: Contribution to journalArticlepeer-review

2 Citations (Scopus)
130 Downloads (Pure)

Abstract

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.
Original languageEnglish
JournalEconomics Letters
Volume168
Early online date12 Mar 2018
DOIs
Publication statusE-pub ahead of print - 12 Mar 2018

Keywords

  • News shocks
  • Business cycles
  • VAR
  • Sectoral TFP

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