Read Me 

This folder contains the following files used in the paper.

SectoralData2016.mat - MATLAB data file containing observations used in estimation.

EstNews_KK_4.mod - This is the main dynare file for our baseline results reported in Table 2.
EstNews_KK_4_Restricted.mod - This is a restricted version of our baseline model. 

EstNews_KK_OnlyM.mod - For M = 0, ..., 5, these are dynare files estimating the model that includes only M-quarter-ahead news shocks, used for Table 1.
EstNews_KK_M.mod - For M = 2, ..., 5, these are dynare files estimating the model that includes up to M-quarter-ahead news shocks, used for Table 1.

EstNews_JR.mod - This dynare file estimates the two-sector version of Jaimovich-Rebelo (2009) model. The estimated results are reported in Table 5.
EstNews_Hybrid.mod - This dynare file estimates the hybrid version. The estimated results are reported in Table 5.

Posterior_ComoveCond.m - MATLAB file used to draw Figure 4.
FindBetaPar.m - Function used in Posterior_ComoveCond.m
FindGPar.m - Function used in Posterior_ComoveCond.m
