| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 7348832 | Economics Letters | 2018 | 16 Pages |
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.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Christoph Görtz, John D. Tsoukalas,