We study the relation between macroeconomic fundamentals and asset pricing through the lens of a state of the art dynamic stochastic general equilibrium (DSGE) model considered in Christiano, Trabandt and Walentin (2011). We provide a full-information Bayesian estimation of the model using macro variables and extract three fundamental shocks to the economy through the model: neutral technology ...

We study the maintenance of a machine operating under environmental conditions producing shocks affecting the lifetime of the machine. The shocks cause different types of damage depending on their strength and eventually the total failure. The maintenance of the machine is performed by repairs and replacement. The interarrival times of shocks are dependent. We introduce a multidimensional stoch...

This article contends that the various measures of the contribution of technology shocks to business cycles calculated using the real business cycle modeling method are not corroborated. The article focuses on a different and much simpler method for calculating the contribution of technology shocks, which takes account of facts concerning the productivity/labor input correlation and the variabi...

This study tests the importance of Ricardian technology di¤erences for international trade. Panel regressions …nd technology growth increases manufacturing exports. To establish a causal relationship between technology and trade, instrumental-variables speci…cations exploit uneven technology di¤usion from the US through ethnic scienti…c networks. The instrumented elasticity of export growth to ...