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The Impact of Pessimistic Expectations on the Effects of COVID‐19‐Induced Uncertainty in the Euro Area*

We estimate a monthly interacted‐VAR model for euro area macroeconomic aggregates allowing for the impact of uncertainty shocks to depend on the state of the average outlook for the economy measured by survey data. We find that, in response to an uncertainty shock, the peak decrease in industrial pr...

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Foilsithe in:Oxf Bull Econ Stat
Main Authors: Pellegrino, Giovanni, Ravenna, Federico, Züllig, Gabriel
Formáid: Artigo
Teanga:Inglês
Foilsithe: John Wiley and Sons Inc. 2021
Ábhair:
Rochtain Ar Líne:https://ncbi.nlm.nih.gov/pmc/articles/PMC8250985/
https://ncbi.nlm.nih.gov/pubmed/34230746
https://ncbi.nlm.nih.govhttp://dx.doi.org/10.1111/obes.12431
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