endogenous relation between productivity growth and the state of the economy. A large contractionary shock to equity financing in …

's adjusted TFP data to identify impulse responses to news shocks about future productivity in a structural VAR. The vintage of …

This paper shows that a standard Real Business Cycle model driven by productivity shocks can successfully account for …. The model is successful because the volatility of productivity shocks has also declined significantly over the same time … volatility requires a change in the volatility of a productivity-like shock operating within a standard growth model …

-open-economy real-business-cycle model driven by nonstationary productivity shocks. We find that the RBC model does a poor job at … business cycles in emerging markets and, importantly, assigns a negligible role to nonstationary productivity shocks …

leisure. Business cycles are assumed to be driven by permanent and stationary neutral productivity shocks, permanent …

productivity across sectors exhibits weak correlation. While previous work examined production complementarity, our analysis … explores complementarity in information acquisition. Because information about future productivity has a high fixed cost of … production and a low marginal cost of replication, sectors can share the cost to forecast their sector-specific productivity …