News Shocks and the Slope of the Term Structure of Interest Rates: Comment
Danilo Cascaldi-Garcia ()
American Economic Review, 2017, vol. 107, issue 10, 3243-49
Kurmann and Otrok (2013) establish that the effects on economic activity from news on future productivity growth are similar to the effects from unexpected changes in the slope of the yield curve. This comment shows that these results become substantially weaker in the light of a recent update in the utilization-adjusted total factor productivity series produced by Fernald (2014).
JEL-codes: E23 E32 E43 E52 G12 G14 (search for similar items in EconPapers)
Note: DOI: 10.1257/aer.20160547
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Working Paper: News Shocks and the Slope of the Term Structure of Interest Rates: Comment (2017)
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