Sectoral TFP news shocks

Tsoukalas, J. and Görtz, C. (2018) Sectoral TFP news shocks. Economics Letters, 168, pp. 31-36. (doi:10.1016/j.econlet.2018.03.001)

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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