Abraham Assefa, Darya Lapitskaya and Lenno Uusküla

Author Archive | Abraham Assefa, Darya Lapitskaya and Lenno Uusküla


Productivity and Firm Dynamics over the Business Cycle

The paper studies the effects of technology shocks on the creation and destruction of firms. Using US data and a VAR model the paper finds Schumpeterian creative destruction for investment-specific technology shocks. A positive investment-specific technology shock increases the number of firms opening, but also leads to a higher number of firms closing. In contrast, […]

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The Effects of the ECB Communications on Financial Markets before and during COVID-19 Pandemic

The paper aims to estimate the effects of the European Central Bank communications on the sectoral returns of STOXX Europe 600 from 2013 to 2021. Previous literature has investigated the effects of communications of central banks and checked their effects on macroeconomics and financial data. New opportunities offered by text mining analysis allow us to […]

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