Uncertainty Fluctuations: Measures, Effects and Macroeconomic Policy Challenges

Laurent Ferrara, Stéphane Lhuissier and Fabien Tripier

A chapter in International Macroeconomics in the Wake of the Global Financial Crisis, 2018, pp 159-181 from Springer

Abstract: Abstract The world economy is plagued by uncertainties of various kinds from economic policy uncertainty to financial volatility. This chapter presents the main measures for uncertainty referred to in policy debates, explains how uncertainty affects the macro-economy and draws three lessons for policy-makers facing increasing uncertainties. First, macroeconomic policies have a direct role to play in stabilizing policy-related uncertainty. Second, financial uncertainty should be constrained through financial regulation. Third, the effectiveness of economic stabilization policies depends on the state of uncertainty and should be adapted accordingly.

Keywords: Uncertainty; Measurement; Macroeconomic impact; Economic policy (search for similar items in EconPapers)
Date: 2018
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Working Paper: Uncertainty Fluctuations: Measures, Effects and Macroeconomic Policy Challenges (2017)
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DOI: 10.1007/978-3-319-79075-6_9

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