News Shocks and the Slope of the Term Structure of Interest Rates: Comment
评论了Kurmann和Otrok（2013）的研究，指出在更新了Fernald（2014）的全要素生产率数据后，新闻冲击对经济活动的影响与收益率曲线斜率意外变化的影响之间的相似性显著减弱。
Kurmann and Otrok (2013) establish that the effects on economic activity from news on future productivity growth are similar to the effects from unexpected changes in the slope of the yield curve. This comment shows that these results become substantially weaker in the light of a recent update in the utilization-adjusted total factor productivity series produced by Fernald (2014).