Tsoukalas, J. and Görtz, C. (2018) Sectoral TFP news shocks. Economics Letters, 168, pp. 31-36. (doi: 10.1016/j.econlet.2018.03.001)
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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.
| Item Type: | Articles |
|---|---|
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | Tsoukalas, Professor John |
| Authors: | Tsoukalas, J., and Görtz, C. |
| College/School: | College of Social Sciences > Adam Smith Business School > Economics |
| Journal Name: | Economics Letters |
| Publisher: | Elsevier |
| ISSN: | 0165-1765 |
| ISSN (Online): | 1873-7374 |
| Published Online: | 12 March 2018 |
| Copyright Holders: | Copyright © 2018 Elsevier B.V. |
| First Published: | First published in Economics Letters 168:31-36 |
| Publisher Policy: | Reproduced in accordance with the copyright policy of the publisher |
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