The "news" view of economic fluctuations: evidence from aggregate Japanese data and sectoral U.S. data
"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 p...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2005
|
| Schriftenreihe: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
11496 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "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. |
| Beschreibung: | 26 S. graph. Darst. |
Internformat
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| 490 | 1 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 11496 | |
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| geographic_facet | USA |
| id | DE-604.BV021298813 |
| illustrated | Illustrated |
| index_date | 2024-07-02T13:52:03Z |
| indexdate | 2024-07-09T20:35:03Z |
| institution | BVB |
| language | English |
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| physical | 26 S. graph. Darst. |
| publishDate | 2005 |
| publishDateSearch | 2005 |
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| publisher | National Bureau of Economic Research |
| record_format | marc |
| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Beaudry, Paul 1960- Verfasser (DE-588)124563015 aut The "news" view of economic fluctuations evidence from aggregate Japanese data and sectoral U.S. data Paul Beaudry ; Franck Portier Cambridge, Mass. National Bureau of Economic Research 2005 26 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11496 "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. Ökonometrisches Modell Stocks Prices Japan Econometric models Stocks Prices United States Econometric models USA Portier, Franck 1964- Verfasser (DE-588)129335495 aut Erscheint auch als Internetausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11496 (DE-604)BV002801238 11496 http://papers.nber.org/papers/w11496.pdf kostenfrei Volltext |
| spellingShingle | Beaudry, Paul 1960- Portier, Franck 1964- The "news" view of economic fluctuations evidence from aggregate Japanese data and sectoral U.S. data National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Ökonometrisches Modell Stocks Prices Japan Econometric models Stocks Prices United States Econometric models |
| title | The "news" view of economic fluctuations evidence from aggregate Japanese data and sectoral U.S. data |
| title_auth | The "news" view of economic fluctuations evidence from aggregate Japanese data and sectoral U.S. data |
| title_exact_search | The "news" view of economic fluctuations evidence from aggregate Japanese data and sectoral U.S. data |
| title_exact_search_txtP | The "news" view of economic fluctuations evidence from aggregate Japanese data and sectoral U.S. data |
| title_full | The "news" view of economic fluctuations evidence from aggregate Japanese data and sectoral U.S. data Paul Beaudry ; Franck Portier |
| title_fullStr | The "news" view of economic fluctuations evidence from aggregate Japanese data and sectoral U.S. data Paul Beaudry ; Franck Portier |
| title_full_unstemmed | The "news" view of economic fluctuations evidence from aggregate Japanese data and sectoral U.S. data Paul Beaudry ; Franck Portier |
| title_short | The "news" view of economic fluctuations |
| title_sort | the news view of economic fluctuations evidence from aggregate japanese data and sectoral u s data |
| title_sub | evidence from aggregate Japanese data and sectoral U.S. data |
| topic | Ökonometrisches Modell Stocks Prices Japan Econometric models Stocks Prices United States Econometric models |
| topic_facet | Ökonometrisches Modell Stocks Prices Japan Econometric models Stocks Prices United States Econometric models USA |
| url | http://papers.nber.org/papers/w11496.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT beaudrypaul thenewsviewofeconomicfluctuationsevidencefromaggregatejapanesedataandsectoralusdata AT portierfranck thenewsviewofeconomicfluctuationsevidencefromaggregatejapanesedataandsectoralusdata |