due to a fiscal policy shock, as compared to when the rise in output is due to a positive technology shock. The cross ….75 when the rise in output follows from a favorable output shock …

countrywide gun demand shock starting in late 2012, we show that U.S. states with legislation preventing immediate handgun …

framework and firm-level prices and quantities data for detailed products allowing us to both measure demand, and its changes …. This in turn allows us to measure how changes in TFP-Q, demand and markups ultimately affected revenue TFP, as well as …-recession is due to both a weakening of demand and a decreasing TFP-Q pushing down sales, markups, revenue TFP and labour …

unconventional, puzzling or erroneous conclusions. Finally, we discuss the construction of extraneous measures of oil demand and oil …

residuals of the policy rule equation at these shock dates accordingly. In spite of its utmost agnostic nature, this approach …

an uncertainty shock. We find a significantly stronger response of real activity in recessions. Counterfactual …

output) shortly after a monetary policy shock. To overcome this problem, we propose to estimate the VAR parameters under the …