Are predictable improvements in TFP contractionary or expansionary: Implications from sectoral TFP?

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2

초록

We investigate the effects of predictable changes in TFP at the sectoral level. Our findings can reconcile the seemingly contradictory findings in the literature. Shocks to predictable changes in investment-sector TFP are also found important for US business cycle fluctuations.

키워드

Aggregate and sectoral TFPNews shocks to TFPBusiness cycle fluctuationsECONOMIC-FLUCTUATIONSNEWS
제목
Are predictable improvements in TFP contractionary or expansionary: Implications from sectoral TFP?
저자
Nam, DeokwooWang, Jian
DOI
10.1016/j.econlet.2014.05.008
발행일
2014-08
유형
Article
저널명
Economics Letters
124
2
페이지
171 ~ 175