revisions in Fernald's series. When applied to U.S. data, the shock predicts sustained future productivity growth while … variables. The shock does, however, not lead to comovement in macroeconomic aggregates as typically associated with business …

We propose a novel identification scheme for a non-technology business cycle shock, that we label "sentiment." This is … a shock orthogonal to identified surprise and news TFP shocks that maximizes the short-run forecast error variance of an … shock produces a business cycle in the US, with output, hours, and consumption rising following a positive shock, and …

cost shock resulting from the fracking boom, we isolate price responses to firm-specific, regional and industry-wide input …

the direct impact of a shock and the magnitudes of the downstream and the upstream indirect effects. We then investigate …, capturing the fact that the local propagation of a shock to an industry will fall more heavily on other industries that tend to …