measure of aggregate technology and several forward-looking variables, we identify the news shock as the shock orthogonal to …

-announcement times. We use a heteroskedasticity-based procedure to estimate a "Fed non-yield shock", which is orthogonal to yield changes … and is identified from excess volatility in the S&P 500 and various dollar exchange rates. A positive non-yield shock …-yield shock is essentially uncorrelated with previous monetary policy shocks and its effects are large in comparison. Its strong …

amplify and propagate a macroeconomic shock. We focus on the U.S. Great Recession of 2007-2009 and proceed in two steps. First … an aggregate shock, and it does so if the distribution features a sufficiently large fraction of households with very …

decomposition-based approach, we show how to unpack heterogeneity in the fiscal multiplier, an object that at any point in time may … our application, the fiscal multiplier varies considerably with monetary policy: it can be as small as zero, or as large …

We analyze whether government spending multipliers differ by the sign of the shock. Using aggregate historical U …, the resulting multipliers do not differ by sign of the shock. Thus, we find no evidence of asymmetry of government …

A central question in applied research is to estimate the effect of an exogenous intervention or shock on an outcome …

We document the immediate and long-term effects of violent media. Specifically, we evaluate the effects of The Ultimate …

There are two different types of media bias. One bias, which we refer to as ideology, reflects a news outlet's desire …'s attempt to simply create a memorable story. We examine competition among media outlets in the presence of these biases …