Whither News Shocks?
Chapter in NBER book NBER Macroeconomics Annual 2014, Volume 29 (2015), Jonathan A. Parker and Michael Woodford, editors (p. 225 - 264)
---- Acknowledgments ----
This paper is dedicated to the memory of Santimay Basu (1932-2013): gentleman, scholar and humanist. We thank Larry Christiano for many helpful discussions, and Larry Christiano, Franck Portier, conference participants and the editors for useful comments. The paper does not reflect the views of the Federal Reserve Bank of Chicago, the Federal Reserve System, or the National Bureau of Economic Research.