Intersectoral linkages can act as shock propagation channels and shape the pattern of structural transformation. To our … output shock that occurred in the south of Ghana leads to growing differences in intersectoral linkages between the north and … the south of the country, (2) the effect of the mining output shock on output and productivity growth in other sectors …

financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …

workers' unobserved heterogeneity and measurement error in the wage shock information. The estimated labor supply responses …

shock. Third, we present evidence coherent with the idea that more leveraged sectors experience larger employment volatility … market volatility and Okun's elasticity over the business cycle. Second, we highlight a key mechanism linking financial … in normal times deep capital markets lead to tight labor markets. After an adverse liquidity shock, firms that rely much …