pessimism) pertains to total factor productivity, which determines economic activity in the long run. Optimism shocks are … perceived changes in productivity that do not actually materialize. We develop a new strategy to identify optimism shocks in a … and the real-time prediction of professional forecasters. We find that optimism shocks – in line with theory - generate a …

We explore the possibility that a global productivity slowdown is responsible for the widespread decline in the labor …

This paper assesses the role of intra-sectoral spillovers in total factor productivity across Chinese producers in the … as a function of skilled and unskilled labor, capital, materials, and total factor productivity, which is broadly defined …, the extent of accumulated intangible assets, and unobservable total factor productivity. Despite the richness of our data …

technology shocks. It is found that hours worked increase on impact in response to a technology shock (though the effect dies …

question in the context of a heterogeneous-firm RBC model with persistent firm-level productivity shocks and lumpy capital …

Sticky price models featuring heterogeneous firms and systematic firm-level productivity trends deliver radically …-state inflation rate generically differs from zero and (2) inflation optimally responds to productivity disturbances. We show this by …