Journal ArticleDOI
Impact of economic uncertainty in a small open economy: the case of Chile
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The authors constructed the first news-based economic uncertainty index for Chile, which allowed them to rebuild 23 years of the history of economic uncertainty in the country and quantify its impact on the eco...Abstract:
We construct the first news-based economic uncertainty index for Chile, which allowed us to rebuild 23 years of the history of economic uncertainty in the country and quantify its impact on the eco...read more
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Economic policy uncertainty and cryptocurrency market as a risk management avenue: A systematic review
TL;DR: In this paper, the authors provide a systematic review of the vast range empirical literature based on the cryptocurrency market as a risk management avenue against economic policy uncertainty (EPU), and discover that cryptocurrencies have mixed connectedness patterns with all national EPU therefore, the risk mitigation ability varies from country to country.
Journal ArticleDOI
Uncertainty indicators based on expectations of business and consumer surveys
TL;DR: In this paper, the authors evaluate the dynamic response of different macroeconomic variables to shocks in agents' perception of three dimensions of uncertainty (economic, inflation and employment) by applying a geometric indicator to compute the proportion of disagreement in business and consumer expectations of eight European countries and the Euro Area.
Journal ArticleDOI
Economic policy uncertainty: Persistence and cross-country linkages
TL;DR: In this paper, the authors used fractional integration/cointegration methods to measure the degree of persistence of the EPU and whether there exists a long-run equilibrium relationship linking the individual indices.
Journal ArticleDOI
Have cross-category spillovers of economic policy uncertainty changed during the US–China trade war?
TL;DR: The authors investigated the interconnection of policy uncertainties between the world's two largest countries, the US and China, and shed light on whether and how the US-China trade war affects each party.
Journal ArticleDOI
Assessing the impact of Covid-19 pandemic in Turkey with a novel economic uncertainty index
TL;DR: In this paper, a novel economic uncertainty index (EUI) employing principal component analysis (PCA) employing 14 macroeconomic indicators that spans from January 2011 to July 2020 is presented.
References
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Journal ArticleDOI
The General Theory of Employment
TL;DR: In this paper, the theory of interest was restated and the output of capital goods and of consumption was analyzed in terms of uncertainty and fluctuations of investment, and demand and supply for output as a whole.
Posted Content
The Impact of Uncertainty Shocks
TL;DR: In this paper, a model with a time varying second moment is proposed to simulate a macro uncertainty shock, which produces a rapid drop and rebound in aggregate output and employment, which occurs because higher uncertainty causes firms to temporarily pause their investment and hiring.
Journal ArticleDOI
Irreversibility, Uncertainty, and Cyclical Investment
TL;DR: In this article, the authors build on the theory of irreversible choice under uncertainty to explain cyclical investment fluctuations and show that when individual projects are irreversible, agents must make investment timing decisions that trade off the extra returns from early commitment against the benefits of increased information gained by waiting.
ReportDOI
The Impact of Uncertainty Shocks
TL;DR: In this article, a model with a time-varying second moment is proposed to simulate a macro uncertainty shock, which produces a rapid drop and rebound in aggregate output and employment.
Journal ArticleDOI
Fluctuations in Uncertainty
TL;DR: This article found that both macro and micro uncertainty appears to rise sharply in recessions and the types of exogenous shocks like wars, financial panics and oil price jumps that cause recessions appear to directly increase uncertainty, and uncertainty also appears to endogenously rise further during recessions.