preference or more generally a demand shock. More recently two other explanations have been advocated: surprise changes in … investment specific technology and news about future technology growth. The aim of this paper is to provide a quantitative …

are generally small, a positive technology shock tends to decrease inequality, and a shock that raises the inequality of …

We study the impact of techies--engineers and other technically trained workers--on firm-level productivity. We first … structural econometric methods, we estimate the causal effect of techies on firm-level Hicks-neutral productivity in both … manufacturing and non-manufacturing industries. We find that techies raise firm-level productivity, and this effect goes beyond the …

aggregate levels: cheap credit predicts future increases in spreads, low bond returns, and investment drops. Second, it produces …

variables may be fractionally integrated and the predictive relation may feature cointegration, we provide sup-Wald break tests …

the shock compared to countries which did not have such pre-emptive policies in place. We use the episodes of Taper … fixed effects where preemptive policies are ex-ante by construction and cannot be put in place as a response to the shock ex …