Impact of uncertainty measures on the Portuguese economy

Cristina Manteu and Sara Serra

Working Papers from Banco de Portugal, Economics and Research Department

Abstract: The purpose of this paper is to review developments in a number of uncertainty measures for Portugal and gauge their impact on macroeconomic developments in recent years, particularly on GDP, private consumption and GFCF. Our analysis shows that elevated uncertainty had a significant negative impact on economic activity during the financial and sovereign debt crises, while the unwindinding of uncertainty associated with the conclusion of the economic and financial assistance programme in 2014 boosted the subsequent recovery.

JEL-codes: C32 E27 E32 (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ptu:wpaper:w201709

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