Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/207291 
Year of Publication: 
2019
Series/Report no.: 
CESifo Working Paper No. 7900
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
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.
Subjects: 
uncertainty
uncertainty shocks
spillovers
global financial uncertainty
world business cycle
JEL: 
C22
E32
E52
E62
Document Type: 
Working Paper
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