Hump-shape Uncertainty, Agency Costs and Aggregate Fluctuations

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Lee, Gabriel; Kevin, Salyer; Strobel, Johannes;
  • Subject: 330 Wirtschaft | ddc:330

Previously measured uncertainty shocks using the U.S. data show a hump-shape time path: Uncertainty rises for two years before its decline. Current literature on the effects uncertainty on macroeconomics, including housing, has not accounted for this observation. Conseq... View more
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