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PRODID:-//AMSE//Event Calendar//FR
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UID:event-9025@amse-aixmarseille.fr
DTSTAMP:20260415T122918Z
CREATED:20260415T122918Z
LAST-MODIFIED:20260415T122918Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:amse seminar - Silvia Miranda-Agrippino
DTSTART:20220516T093000Z
DTEND:20220516T104500Z
DESCRIPTION:We exploit information in a new dataset of monthly patent appli
 cations to construct an instrumental variable for the identification of tec
 hnology news shocks that relaxes all the identifying assumptions traditiona
 lly used in the literature. Our sole requirement is that no structural dist
 urbances affect the US economy via our instrument except for contemporaneou
 s technology news. The instrument recovers news shocks that have no appreci
 able effect on aggregate productivity on impact\, but are a significant dri
 ver of its trend component. News shocks prompt a sustained business cycle e
 xpansion in anticipation of the future increase in TFP\, and are responsibl
 e for a sizeable share of economic fluctuations at business cycle frequenci
 es. The stock market prices-in news shocks on impact\, but consumer expecta
 tions take sensibly longer to adjust\, consistent with the predictions of m
 odels of information frictions.\\n\\nContact: Ewen Gallic : ewen.gallic[at]
 univ-amu.frAvner Seror : avner.seror[at]univ-amu.fr\n\nPlus d'informations:
  https://amse-aixmarseille.fr/fr/evenements/silvia-miranda-agrippino
LOCATION:Îlot Bernard du Bois - Amphithéâtre\, AMU - AMSE\, 5-9 boulevar
 d Maurice Bourdet\, 13001 Marseille
URL;VALUE=URI:https://amse-aixmarseille.fr/fr/evenements/silvia-miranda-agrippino
CONTACT:Ewen Gallic : ewen.gallic[at]univ-amu.frAvner Seror : avner.seror[a
 t]univ-amu.fr
TRANSP:OPAQUE
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