the pre-1980 period. Measuring expectations of future monetary policy rates conditional on a news shock suggests that the …

inventories react strongly and positively to news about future increases in total factor productivity. Theory suggests that the …

We identify total factor productivity (TFP) news shocks using standard VAR methodology and document a new stylized fact …

investigate different identification schemes for bi-variate systems comprising U.S. stock prices and total factor productivity …. The former variable is viewed as reflecting expectations of economic agents about future productivity. It is found that … used for total factor productivity. -- Cointegration ; Markov regime switching model ; vector error correction model …

productivity in the rest of the economy. To separate exogenous gains in ICT from other technological progress, we use the relative …

In our dynamic optimizing sticky price model, agents are heterogeneous with regard to their age and their productivity …. We find that the business cycle dynamics in the OLG model in response to both a technology shock and a monetary shock are … hours in the OLG model decrease in response to a positive technological shock, since for young workers the income effect …

Despite massive digitization efforts, the German economy has experienced a marked slowdown in its productivity growth … that commenced around 2005. The successful integration of five million predominantly low-productivity workers into the … labor market induced an attenuating effect on productivity growth. This does not explain the slowdown entirely, however. As …

identification procedure, we show that the dominant shock driving total factor productivity (TFP) is akin to a diffusion or news … shock and that shock transmission has changed over time. Specifically, the behavior of hours worked is notably different … shock propagation. …