Book/Printed Material The "news" view of economic fluctuations evidence from aggregate Japanese data and sectoral U.S. data

Title

• The "news" view of economic fluctuations evidence from aggregate Japanese data and sectoral U.S. data

Summary

• "This paper uses aggregate Japanese data and sectoral U.S. data to explore the properties of the joint behavior of stock prices and total factor productivity (TFP) with the aim of highlighting data patterns that are useful for evaluating business cycle theories. The approach used follows that presented in Beaudry and Portier [2004b]. The main findings are that (i) in both Japan and the U.S., innovations in stock prices that are contemporaneously orthogonal to TFP precede most of the long run movements in total factor productivity and (ii) such stock prices innovations do not affect U.S. sectoral TFPs contemporaneously, but do precede TFP increases in those sectors that are driving U.S. TFP growth, namely durable goods, and among them equipment sectors"--National Bureau of Economic Research web site.

Names

• Beaudry, Paul, 1960-
• Portier, Franck
• National Bureau of Economic Research

Created / Published

• Cambridge, MA : National Bureau of Economic Research, c2005.

Headings

• -  Business cycles--Japan
• -  Business cycles--United States
• -  Stocks--Prices--Japan
• -  Stocks--Prices--United States

Notes

• -  Title from PDF file as viewed on 8/5/2005.
• -  Includes bibliographical references.
• -  Also available in print.
• -  Mode of access: World Wide Web.
• -  System requirements: Adobe Acrobat Reader.

Call Number/Physical Location

• HB1

Digital Id

• https://hdl.loc.gov/loc.gdc/gdcebookspublic.2005618501
• http://papers.nber.org/papers/w11496 External

Library of Congress Control Number

• 2005618501

Access Advisory

• Unrestricted online access

Online Format

• image
• pdf

LCCN Permalink

• https://lccn.loc.gov/2005618501

Additional Metadata Formats

• MARCXML Record
• MODS Record
• Dublin Core Record