Arbeitspapier
Components of Uncertainty
Uncertainty is acknowledged to be a source of economic fluctuations. But, does the type of uncertainty matter for the economy's response to an uncertainty shock? This paper offers a novel identification strategy to disentangle different types of uncertainty. It uses machine learning techniques to classify different types of news instead of specifying a set of keywords. It is found that, depending on its source, the effects of uncertainty on macroeconomic variable may differ. I find that both good (expansionary effect) and bad (contractionary effect) types of uncertainty exist.
- ISBN
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978-82-7553-971-5
- Language
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Englisch
- Bibliographic citation
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Series: Working Paper ; No. 5/2017
- Classification
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Wirtschaft
Information, Knowledge, and Uncertainty: General
Business Fluctuations; Cycles
General Outlook and Conditions
- Subject
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newspaper
topic model
uncertainty
business cycles
machine learning
- Event
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Geistige Schöpfung
- (who)
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Larsen, Vegard Høghaug
- Event
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Veröffentlichung
- (who)
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Norges Bank
- (where)
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Oslo
- (when)
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2017
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Larsen, Vegard Høghaug
- Norges Bank
Time of origin
- 2017
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