Domestic and Global Uncertainty: A Survey and Some New Results

Efrem Castelnuovo

No 7900, CESifo Working Paper Series from CESifo

Abstract: This survey features three parts. The first one covers the recent literature on domestic (i.e., country-specific) uncertainty and offers ten main takeaways. The second part reviews contributions on the fast-growing strand of the literature focusing on the macroeconomic effects of uncertainty spillovers and global uncertainty. The last part proposes a novel measure of global financial uncertainty and shows that its unexpected variations are associated to statistically and economically fluctuations of the world business cycle.

Keywords: uncertainty; uncertainty shocks; spillovers; global financial uncertainty; world business cycle (search for similar items in EconPapers)
JEL-codes: C22 E32 E52 E62 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (39)

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Related works:
Working Paper: Domestic and global uncertainty: A survey and some new results (2019)
Working Paper: Domestic and Global Uncertainty: A Survey and Some New Results (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_7900

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