Luca Gambetti

amse seminar

Luca Gambetti

Universidad Autonoma Barcelona
News-driven uncertainty and economic fluctuations
Co-écrit avec
Mario Forni, Luca Sala
Lieu

VC Cinéma le Miroir

Centre de la Vieille-Charité - Cinéma le Miroir

Centre de la Vieille Charité
2 rue de la Charité
13002 Marseille

Date(s)
Lundi 20 mars 2017| 15:00 - 16:30
Contact(s)

Timothée Demont : timothee.demont[at]univ-amu.fr
Roberta Ziparo : rziparo[at]gmail.com

Résumé

News shocks have both a permanent, first-moment effect on point expectations and a temporary, second-moment effect on their confidence bands. Large news shocks increase uncertainty, thus reducing the effects of good news and enlarging the effects of bad news in the short run. The Volker recession and the great recession were exacerbated by the uncertainty effects of news. By contrast, small news shocks reduce uncertainty and increase output in the short run.

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