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
-
978-82-7553-971-5
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 5/2017
- Klassifikation
-
Wirtschaft
Information, Knowledge, and Uncertainty: General
Business Fluctuations; Cycles
General Outlook and Conditions
- Thema
-
newspaper
topic model
uncertainty
business cycles
machine learning
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Larsen, Vegard Høghaug
- Ereignis
-
Veröffentlichung
- (wer)
-
Norges Bank
- (wo)
-
Oslo
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Larsen, Vegard Høghaug
- Norges Bank
Entstanden
- 2017
Ähnliche Objekte (12)
Oil price drivers, geopolitical uncertainty and oil exporters' currencies
The Risk Components of Liquidity
Simple Monetary Policy Rules and Exchange Rate Uncertainty
Forecast Uncertainty in the Neighborhood of the Effective Lower Bound: How Much Asymmetry Should We Expect?
The End of the Waterfall: Default Resources of Central Counterparties
Third-Order Approximation of Dynamic Models Without the Use of Tensors
The Origins of a Paper Money Economy - the Case of Norway
A Model of Bankruptcy Prediction
Government Spending Shocks and Rule-Of-Thumb Consumers: The Role of Steady State Inequality
Empirical Modelling of Norwegian Import Prices
On the Design of Monetary Policy Committees
Asset Pricing with Concentrated Ownership of Capital
Oil price drivers, geopolitical uncertainty and oil exporters' currencies
The Risk Components of Liquidity
Simple Monetary Policy Rules and Exchange Rate Uncertainty
Forecast Uncertainty in the Neighborhood of the Effective Lower Bound: How Much Asymmetry Should We Expect?
The End of the Waterfall: Default Resources of Central Counterparties
Third-Order Approximation of Dynamic Models Without the Use of Tensors
The Origins of a Paper Money Economy - the Case of Norway
A Model of Bankruptcy Prediction
Government Spending Shocks and Rule-Of-Thumb Consumers: The Role of Steady State Inequality
Empirical Modelling of Norwegian Import Prices
On the Design of Monetary Policy Committees
Asset Pricing with Concentrated Ownership of Capital
Oil price drivers, geopolitical uncertainty and oil exporters' currencies
The Risk Components of Liquidity
Simple Monetary Policy Rules and Exchange Rate Uncertainty
Forecast Uncertainty in the Neighborhood of the Effective Lower Bound: How Much Asymmetry Should We Expect?
The End of the Waterfall: Default Resources of Central Counterparties
Third-Order Approximation of Dynamic Models Without the Use of Tensors
The Origins of a Paper Money Economy - the Case of Norway
A Model of Bankruptcy Prediction
Government Spending Shocks and Rule-Of-Thumb Consumers: The Role of Steady State Inequality
Empirical Modelling of Norwegian Import Prices
On the Design of Monetary Policy Committees