Uncertainty Financial Frictions and Nominal Rigidities A Quantitative Investigation is popular PDF and ePub book, written by Ambrogio Cesa-Bianchi in 2017-09-29, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Uncertainty Financial Frictions and Nominal Rigidities A Quantitative Investigation can be Read Online from any device for your convenience.
Uncertainty Financial Frictions and Nominal Rigidities A Quantitative Investigation Book PDF Summary
Are uncertainty shocks a major source of business cycle fluctuations? This paper studies the effect of a mean preserving shock to the variance of aggregate total factor productivity (macro uncertainty) and to the dispersion of entrepreneurs' idiosyncratic productivity (micro uncertainty) in a financial accelerator DSGE model with sticky prices. It explores the different mechanisms through which uncertainty shocks are propagated and amplified. The time series properties of macro and micro uncertainty are estimated using U.S. aggregate and firm-level data, respectively. While surprise increases in micro uncertainty have a larger impact on output than macro uncertainty, these account for a small (non-trivial) share of output volatility.
Detail Book of Uncertainty Financial Frictions and Nominal Rigidities A Quantitative Investigation PDF
- Author : Ambrogio Cesa-Bianchi
- Release : 29 September 2017
- Publisher : International Monetary Fund
- ISBN : 9781484324011
- Genre : Business & Economics
- Total Page : 45 pages
- Language : English
- PDF File Size : 20,8 Mb
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