New Keynesian dynamic stochastic general equilibrium models with various specifications of technology, markup, and interest rate shocks are estimated Indian data using Kalman filter based pure Bayesian likelihood estimation. Preference found to be important for output determination, whereas markup inflation. News, as contained in stock market variables arising from anticipated rates, affects gr...

This paper is the first to consider link between information in facial expressions of economic actors and activity. While much research has focused on text based sentiment, little understood about possible conveyed by expressions. A collection media photographs corresponding US economy for period 1996–2018 used construct indices emotions communicated The are correlated with business cycle condi...

A key feature of the business cycle data is that output, employment and investment move up and down together in different sectors of the economy. However, standard business cycle models fail to generate this business cycle sectoral co-movement. In this paper we propose a two-sector business cycle model that generates the sectoral cycle co-movement in response to both contemporaneous shocks and ...