Uncertainty shocks and business cycle research

Fernández-Villaverde, Jesús; Guerrón-Quintana, Pablo A.

doi:https://doi.org/10.1016/j.red.2020.06.005

Uncertainty shocks and business cycle research

dc.creator	Fernández-Villaverde, Jesús
dc.creator	Guerrón-Quintana, Pablo A.
dc.date.accessioned	2020-07-14T16:00:45Z
dc.date.available	2020-07-14T16:00:45Z
dc.date.created	2020-06-23
dc.description.abstractenglish	We review the literature on uncertainty shocks and business cycle research. First, we motivate the study of uncertainty shocks by documenting the presence of time-variation in the volatility of macroeconomic time series. Second, we enumerate the mechanisms that researchers have postulated to link uncertainty shocks and business cycles. Third, we outline how we can specify uncertainty shocks. Fourth, we postulate a real business cycle model augmented with financial frictions and uncertainty shocks. Fifth, we use the model to illustrate our previous discussions and to show how uncertainty shocks can be expansionary, a useful finding in several contexts.	spa
dc.format.extent	29 páginas	spa
dc.format.mimetype	application/pdf	spa
dc.identifier.doi	https://doi.org/10.1016/j.red.2020.06.005	spa
dc.identifier.issn	1094-2025	spa
dc.identifier.other	https://www.sciencedirect.com/science/article/pii/S1094202520300454?via%3Dihub#kws0020	spa
dc.identifier.uri	https://hdl.handle.net/20.500.12010/10485
dc.publisher	Science Direct	eng
dc.rights.accessrights	info:eu-repo/semantics/openAccess	spa
dc.source	reponame:Expeditio Repositorio Institucional UJTL	spa
dc.source	instname:Universidad de Bogotá Jorge Tadeo Lozano	spa
dc.subject	Fricciones financieras	spa
dc.subject.keyword	Uncertainty shocks	spa
dc.subject.keyword	Business cycles	spa
dc.subject.keyword	Financial frictions	spa
dc.subject.lemb	Síndrome respiratorio agudo grave	spa
dc.subject.lemb	COVID-19	spa
dc.subject.lemb	SARS-CoV-2	spa
dc.subject.lemb	Coronavirus	spa
dc.title	Uncertainty shocks and business cycle research	spa
dc.type.hasversion	info:eu-repo/semantics/acceptedVersion	spa
dc.type.local	Artículo	spa

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