Domestic and global uncertainty: A survey and some new results

Vol: 
75/2019
Author name: 
Castelnuovo E
Year: 
2019
Month: 
October
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.

Publication file: 

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