Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/184797
Authors: 
Mumtaz, Haroon
Year of Publication: 
2018
Series/Report no.: 
Working Paper 846
Abstract: 
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 ?nd that increases in uncertainty do have an adverse impact on real income, employment and unemployment. Thus, uncertainty shocks can be a source of economic fluctuations.
Subjects: 
Uncertainty shocks
Instrumental variables
US states
JEL: 
C15
C32
E32
Document Type: 
Working Paper
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