News as slow diffusing technology

Item Type Monograph (Working Paper)
Abstract In this paper we develop a medium scale dynamic stochastic general equilibrium model with real frictions that proposes an explanation for the evolution of productivity and delivers the comovement of macroeconomic aggregates in response to a technology diffusion news shock. An important feature of the model is that, even though the technology frontier evolves exogenously, the production economy needs to engage in a costly adoption process in order to reap the benefits of using newly developed technologies. The model predictions match the empirical results of both unanticipated productivity and technology diffusion news shocks qualitatively.
Authors Iordache-Bolboaca, Maria & Fischer, Sarah
Language English
Keywords productivity shock, news shock, business cycle, endogenous adoption of technology, horizontal innovation
Subjects economics
HSG Classification contribution to scientific community
HSG Profile Area SEPS - Quantitative Economic Methods
Date 5 February 2019
Contact Email Address
Depositing User Dr. Maria Iordache-Bolboaca
Date Deposited 22 Oct 2019 07:59
Last Modified 20 Jul 2022 17:39


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Iordache-Bolboaca, Maria & Fischer, Sarah: News as slow diffusing technology. , 2019,

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