Cholesky multivariate stochastic volatility model.It establishes that systematically different dynamic restrictions are imposed … divergent when volatility clusters idiosyncratically.It is illustrated that this property is important for empirical …

We analyze the influence of monetary policy on firms’ extensive margin and productivity. Our empirical evidence for the …

conceptualised as news about a future slowdown in productivity growth in the tradable sector. Simulations show that the responses of … the model economy to such news are consistent with key patterns in UK data. While overall economic growth slows, an …' for tradable producers before the slowdown in tradable sector productivity associated with Brexit occurs. Resources are …

income tax cut, we find that: (i) labor productivity increases; (ii) entry increases with delay; (iii) exit increases; (iv … with idiosyncratic firm productivity, and entry and exit. Our model features productivity gains due to selection and …

In a recent paper, Bloom et al. (2020) find evidence for a substantial decline in research productivity in the U …

also look at historical shock decompositions of real GDP growth across the models since 2005 in order to shed light on the …