| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14398 |
| DP14398 Uncertainty Shocks and Business Cycle Research | |
| Jesus Fernandez-Villaverde | |
| 发表日期 | 2020-02-10 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We review the literature on uncertainty shocks and business cycle research. First, we motivate the study of uncertainty shocks by documenting the presence of time-variation in the volatility of macroeconomic time series. Second, we enumerate the mechanisms that researchers have postulated to link uncertainty shocks and business cycles. Third, we outline how we can specify uncertainty shocks. Fourth, we postulate a real business cycle model augmented with financial frictions and uncertainty shocks. Fifth, we use the model to illustrate our previous discussions and to show how uncertainty shocks can be expansionary. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Uncertainty shocks Business cycles Financial frictions |
| URL | https://cepr.org/publications/dp14398 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543292 |
| 推荐引用方式 GB/T 7714 | Jesus Fernandez-Villaverde. DP14398 Uncertainty Shocks and Business Cycle Research. 2020. |
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