The Industrial Impact of Economic Uncertainty Shocks in Australia
Hamish Burrell and
Joaquin Vespignani
Economic Papers, 2021, vol. 40, issue 3, 248-271
Abstract:
Understanding the impact of economic uncertainty shocks at the industrial disaggregated level is critical for both fiscal and monetary policy response. We estimate an SVAR model using quarterly Australian data from 1987:2 to 2018:4. The results of this paper emphasise that individual industries have a unique response to an economic uncertainty shock and do not necessarily reflect the response of the broader aggregate macroeconomy. We found the following stylised facts: (i) The construction industry is the most negatively impacted industry by an economic uncertainty shock in terms of investment, output and employment in Australia, (ii) The financial and insurance services industry also endures a substantial decline to the shock, particularly on investment and employment indicators, and (iii) Economic uncertainty is shown to have less impact on the mining, health care and social assistance and public administration and safety industries.
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
https://doi.org/10.1111/1759-3441.12324
Related works:
Working Paper: Industrial Impact of Economic Uncertainty Shocks in Australia (2020) 
Working Paper: The industrial impact of economic uncertainty shocks in Australia (2019) 
Working Paper: The industrial impact of economic uncertainty shocks in Australia (2019) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:bla:econpa:v:40:y:2021:i:3:p:248-271
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0812-0439
Access Statistics for this article
Economic Papers is currently edited by Professor Guay Lim
More articles in Economic Papers from The Economic Society of Australia Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().