Chahrour, Ryan; Chugh, Sanjay K.; Potter, Tristan - In: Quantitative economics : QE ; journal of the … 14 (2023) 3, pp. 897-934
We identify the main shock driving fluctuations in long‐horizon productivity expectations, consistent with theories of … stock prices even though TFP does not change significantly for more than 2 years. A labor search model in which wages are …‐finding rates. The proposed wage rule is consistent with empirical responses of wages to both anticipated and unanticipated …