Short-run and long-run news : evidence from giant commodity discoveries / Jean-Paul L’Huillier, Kirill Shakhnov, Laure Simon.: FB3-5/2025-24E-PDF
"The bulk of the news shocks literature focuses on shocks materializing after four or five quarters, with limited evidence on news about longer-run events. We build a new dataset of discovery and production start dates for a wide range of giant commodity discoveries worldwide from 1960 to 2012. Standard open economy models match the empirical responses of short-run news but fail in the case of long-run news. Incorporating financial frictions in the form of collateral constraints is crucial for capturing the dynamics implied by long-run news. We also provide direct evidence on the role of these frictions"--Abstract, page ii.
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publications.gc.ca/pub?id=9.956699&sl=0
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| Title | Short-run and long-run news : evidence from giant commodity discoveries / Jean-Paul L’Huillier, Kirill Shakhnov, Laure Simon. |
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| Publication type | Monograph - View Master Record |
| Language | [English] |
| Format | Digital text |
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| Description | 1 online resource (ii, 58 pages) : charts. |
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