We identify an inflationary technology news shock as the leading source of business cycle variations for the postwar U ….S. economy. This shock acts like a demand shock: it induces strong positive comovement in real quantities - GDP, consumption … technological innovations reduce inflation. The technology news shock became the predominant source of the business cycle from the …

of aggregate technology and several forward-looking variables, we identify the news shock as the shock orthogonal to …

Most of the theoretical work in the news shock literature abstracts away from structural explanations, assuming instead …

An n-variable structural vector auto-regression (SVAR) can be identified (up to shock order) from the evolution of the … process. I propose a new identification argument that identifies the SVAR up to shock orderings using the autocovariance … structure of second moments of the residuals implied by an arbitrary stochastic process for the shock variances. These higher …

the pre-1980 period. Measuring expectations of future monetary policy rates conditional on a news shock suggests that the …

restrictions on the impulse responses of main macroeconomic variables to identify monetary shock. This study finds that …

. Using transaction-level data, we document (i) a "China shock" in the U.S. housing market characterized by surging foreign …

transactions data. We document (i) a "China shock" in the U.S. real estate market after 2007 driven by the Chinese government …