Now showing items 1-8 of 8
The State-Level Impact of Uncertainty Shocks
Does uncertainty affect real activity? Evidence from state-level data
We use variation in the effect of US-wide or global uncertainty on state-level uncertainty to identify the impact of this shock on real activity. We find that increases in uncertainty do have an adverse impact on real ...
Policy Uncertainty and Aggregate fluctuations
Global Economic Divergence and Portfolio Capital Flows to Emerging Markets
This paper studies the role of global and regional variations in economic activity and policy in developed world in driving portfolio capital flows (PCFs) to emerging markets (EMs). Results suggest that PCFs to EMs depend ...
Changing Macroeconomic Dynamics at the Zero Lower Bound
(Taylor & Francis, 2017-07-24)
This paper develops a change-point VAR model that isolates four major macroeconomic regimes in the US since the 1960s. The model identifies shocks to demand, supply, monetary policy, and spread yield using restrictions ...