Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/18023 
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dc.contributor.authorLucke, Bernden
dc.contributor.authorHaertel, Thomasen
dc.date.accessioned2009-01-28T15:06:11Z-
dc.date.available2009-01-28T15:06:11Z-
dc.date.issued2008-
dc.identifier.citation|aEconomics: The Open-Access, Open-Assessment E-Journal|c1864-6042|v2|h2008-10|nKiel Institute for the World Economy (IfW)|lKiel|y2008|p1-21en
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2008-10en
dc.identifier.urihttp://hdl.handle.net/10419/18023-
dc.description.abstractWe study the Beaudry and Portier (2006)-hypothesis of delayed-technology diffusion and news-driven business cycles. For German data on TFP and stock prices we find qualitatively similar empirical evidence. Quantitatively, however, an impulse response analysis suggests that a substantial part of the total TFP response is immediate rather than delayed. We relate this to disembodied technological change and noisy data on TFP. Nevertheless, we confirm the technology interpretation of structural shocks by showing that they are Granger-causal for data on patents granted by the German patent agency. We also show that these shocks generate comovement of macro variables at business cycle horizons and account for a sizable share of the forecast error variance of these variables in the medium and long run.en
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.subject.jelE32en
dc.subject.ddc330en
dc.subject.keywordNewsen
dc.subject.keywordbusiness cyclesen
dc.subject.keywordTFPen
dc.subject.keywordstructural VARen
dc.subject.stwTechnischer Fortschritten
dc.subject.stwProduktivitäten
dc.subject.stwInformationsverbreitungen
dc.subject.stwSchocken
dc.subject.stwKonjunkturen
dc.subject.stwVAR-Modellen
dc.subject.stwKausalanalyseen
dc.subject.stwDeutschlanden
dc.titleDo News Shocks Drive Business Cycles? Evidence from German Data-
dc.typeArticleen
dc.identifier.ppn560132441en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifweej:7127en
econstor.citation.journaltitleEconomics: The Open-Access, Open-Assessment E-Journalen
econstor.citation.issn1864-6042en
econstor.citation.volume2en
econstor.citation.issue2008-10en
econstor.citation.publisherKiel Institute for the World Economy (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year2008en
econstor.citation.startpage1en
econstor.citation.endpage21en

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