Velkommen til SSBs forskningsseminar
- Vegard H. Larsen
- 7. november 2017
- 11.45 - 12.45
Vegard H. Larsen, Norges Bank
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.
Servering av baguetter og kaffe fra kl. 11.30.