Arbeitspapier
On the (de)stabilizing effects of news shocks
This paper analyzes the impacts of news shocks on macroeconomic volatility. Whereas in any purely forward-looking model, such as the baseline New Keynesian model, anticipation amplifies volatility, we obtain ambiguous results when including a backward-looking component. In addition to these theoretical findings, we use the estimated model of Smets and Wouters (2003) to provide numerical evidence that news shocks increase the volatility of key macroeconomic variables in the euro area when compared to unanticipated shocks.
- Sprache
-
Englisch
- Erschienen in
-
Series: Economics Working Paper ; No. 2009-05
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
- Thema
-
Anticipated shocks
business cycles
volatility
Schock
Konjunktur
Volatilität
Europäische Wirtschafts- und Währungsunion
Theorie
EU-Staaten
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Winkler, Roland C.
Wohltmann, Hans-Werner
- Ereignis
-
Veröffentlichung
- (wer)
-
Kiel University, Department of Economics
- (wo)
-
Kiel
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 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
- Winkler, Roland C.
- Wohltmann, Hans-Werner
- Kiel University, Department of Economics
Entstanden
- 2009
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