Uncertainty Shocks in a Model of Effective Demand
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https://www.nber.org/papers/w18420
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Can increased uncertainty about the future cause a contraction in output and its components? An identified uncertainty shock in the data causes significant declines in output, consumption, investment, and hours worked. Standard general-equilibrium models with flexible prices cannot reproduce this
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美国国家经济研究局创建时间：
2012-09-01
