Understanding Uncertainty Shocks and the Role of Black Swans
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https://www.nber.org/papers/w20445
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资源简介：
A fruitful emerging literature reveals that shocks to uncertainty can explain asset returns, business cycles and financial crises. The literature equates uncertainty shocks with changes in the variance of an innovation whose distribution is common knowledge. But how do such shocks arise? This paper
提供机构：
美国国家经济研究局
创建时间：
2014-08-01
