The effects of surprise and anticipated technology changes on international relative prices and trade

This paper argues that it is important to distinguish surprise and anticipated components of total factor productivity (TFP) when we study the international transmission of TFP shocks.

Subjects

• Industrial productivity.
• Foreign exchange rates
• Balance of trade.
• International transmission of TFP shocks
• News shocks
• Real exchange rate
• Backus–Smith puzzle
• Impulse response function matching estimation

Details

• From
  Journal of International Economics, 97, 1 (Sep. 2015) 162-177
• Language
  English
• ISSN
  0022-1996