The cost of uncertainty
| Autor: | Posada, Carlos Esteban Posada |
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| Rok vydání: | 2024 |
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| Druh dokumentu: | Working Paper |
| Popis: | The traditional and most common view of economists on the issue of (bad) uncertainty and its effects has been one of partial equilibrium. When the topic is approached from a macroeconomic perspective, the most frequent has been the examination of the effects of uncertainty shocks on short-term dynamics with various methods, but mainly with neo-Keynesian and statistical (vector autoregressive) models. This document responds to another concern and has two objectives: 1. to reflect on this issue with some instruments of the macroeconomist's toolbox related to a medium or long-term horizon, and 2. report a ciphering of the social cost of uncertainty in the Colombian case. Comment: 13 pages, 4 figures, 2 tables |
| Databáze: | arXiv |
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