| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15312 |
| 来源ID | Working Paper 15312 |
| News Shocks | |
| Robert B. Barsky; Eric R. Sims | |
| 发表日期 | 2009-09-04 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We implement a new approach for the identification of "news shocks" about future technology. In a VAR featuring a measure of aggregate technology and several forward-looking variables, we identify the news shock as the shock orthogonal to technology innovations that best explains future variation in technology. In the data, news shocks account for the bulk of low frequency variation in technology. News shocks are positively correlated with consumption, stock price, and consumer confidence innovations, and negatively correlated with inflation innovations. The disinflationary nature of news shocks is consistent with the implications of sensibly modified versions of a New Keynesian model. |
| 主题 | Macroeconomics ; Macroeconomic Models ; Consumption and Investment ; Business Cycles |
| URL | https://www.nber.org/papers/w15312 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572987 |
| 推荐引用方式 GB/T 7714 | Robert B. Barsky,Eric R. Sims. News Shocks. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15312.pdf（340KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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