Domestic and Global Uncertainty: A Survey and Some New Results

Efrem Castelnuovo

Melbourne Institute Working Paper Series from Melbourne Institute of Applied Economic and Social Research, The University of Melbourne

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)
Pages: 47pp
Date: 2019-11
New Economics Papers: this item is included in nep-fdg and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (39)

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https://melbourneinstitute.unimelb.edu.au/__data/a ... 218307/wp2019n13.pdf (application/pdf)

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:iae:iaewps:wp2019n13

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