The impact of the recent spike in uncertainty on economic activity in the euro area

Arne Gieseck and Svetlana Rujin

Economic Bulletin Boxes, 2020, vol. 6

Abstract: The coronavirus (COVID-19) pandemic has triggered an unprecedented increase in uncertainty. This box shows how selected measures of uncertainty have evolved during the past few months and exploits the information embedded in the measure of macroeconomic uncertainty to assess its impact on economic activity. This is done by using a Bayesian vector autoregressive (BVAR) model which allows the dynamic effect of an uncertainty shock on the variable of interest to be estimated. JEL Classification: C32, D80, E20, E27, E66

Keywords: Economy; uncertainty (search for similar items in EconPapers)
Date: 2020-09
Note: 1560383
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2020:0006:4

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