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The Common Origin of Uncertainty Shocks

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NBER2016-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w22384
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Various types of uncertainty shocks can explain many phenomena in macroeconomics and finance. But does this just amount to inventing new, exogenous, unobserved shocks to explain challenging features of business cycles? This paper argues that three conceptually distinct fluctuations, all called
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2016-07-01
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