التفاصيل البيبلوغرافية
| العنوان: |
News Shocks and the Slope of the Term Structure of Interest Rates: Reply. |
| المؤلفون: |
Kurmann, André, Otrok, Christopher |
| المصدر: |
American Economic Review; Oct2017, Vol. 107 Issue 10, p3250-3256, 7p, 2 Graphs |
| مصطلحات موضوعية: |
BUSINESS cycles, INDUSTRIAL productivity, INTEREST rates, CONSUMPTION (Economics), PRICE inflation |
| People: |
FERNALD, John |
| مستخلص: |
This reply to Cascaldi-Garcia's (2017) comment argues that by using the original code of Kurmann and Otrok (2013) with new data on utilization-adjusted TFP, Cascaldi-Garcia (2017) confounds positive and negative news shocks. With a small modification to the code-how a news shock is signed as positive-we obtain news shock responses consistent with Sims (2016) and Kurmann and Sims (2017) and largely reestablish the results of Kurmann and Otrok (2013). (JEL E23, E32, E43, E52, G12, G14) [ABSTRACT FROM AUTHOR] |
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| قاعدة البيانات: |
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