We study information and consumption and whether consumers respond symmetrically to good and bad news. We define a news variable and show that it has explanatory power. We, then, test the hypothesis that consumers react more to bad news than to good news using the PSID to analyze the response of...

We study the transmission of fiscal policy under imperfect information where government spending is composed by permanent and transitory components. Agents learn about the previous processes by only observing overall public spending and a noisy signal. Under this setting and employing maximum...

As major future space explorations are firmly rooted in the US government agenda, research into the macroeconomic impact of a space mission is still scarce. This paper tries to fill the existing gap by building a narrative of the aerospace structural shocks to assess their macroeconomic effects....