integrate the model into a medium sized DSGE model with capital and show that the resulting model does as well as existing …

-time data. We find that such economic news in the United States, Germany and the euro area have indeed been a driving force … macroeconomic news is at least partly explained by their earlier release time compared to corresponding German and euro area news …. The exchange rate is also shown to respond more strongly to news in periods of large market uncertainty and when negative …

perspective of financial markets by analysing the effects of monetary policy announcements and macroeconomic news on daily … EMU. Second, beyond these general linkages, the paper finds that certain macroeconomic news about the US economy have a …. Finally, we show that US macroeconomic news have become good leading indicators for economic developments in the euro area …

techniques. We find that the degree to which consumers’ expectations are discordant is negatively related to news intensity …. Moreover, the results suggest that the absolute bias in expectations decreases as news become more intense and this effect has …

markets by analysing the effects of monetary policy announcements and macroeconomic news on daily interest rates in the United …

judgement, but it does it in a fully automatic way. In particular, it provides an explicit link between the news in consecutive …

-scale DSGE model for the US economy. We consider news about total factor productivity and investment-specific technology, as well … role played by productivity news in this class of models. In contrast, we uncover a non-trivial role for investment …-specific news and anticipated monetary policy shocks not only in the historical and variance decomposition of real economic …

evaluated by computing "news" on the basis of an evolving conditioning information set. The marginal contribution is then split …

within a DSGE model featuring price rigidities and limited asset market participation. Specifically, we estimate the …