Arbeitspapier
On the (de)stabilizing effects of news shocks
This paper analyzes the impacts of news shocks on macroeconomic volatility. Whereas anticipation amplifies volatility in any purely forward-looking model, such as the baseline New Keynesian model, the results are ambiguous 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: Kiel Working Paper ; No. 1542
- 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 Institute for the World Economy (IfW)
- (wo)
-
Kiel
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Winkler, Roland C.
- Wohltmann, Hans-Werner
- Kiel Institute for the World Economy (IfW)
Entstanden
- 2009
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