| 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 |
maria.bolboaca@gmail.com |
| Depositing User |
Dr. Maria Iordache-Bolboaca
|
| Date Deposited |
22 Oct 2019 07:59 |
| Last Modified |
20 Jul 2022 17:39 |
| URI: |
https://www.alexandria.unisg.ch/publications/258167 |
News as slow diffusing technology
![[img]](http://www.alexandria.unisg.ch/style/images/fileicons/oa_orange.png)
