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http://bura.brunel.ac.uk/handle/2438/17432| Title: | The State-Level Impact of Uncertainty Shocks |
| Authors: | Mumtaz, H Sunder-Plassmann, L Theophilopoulou, A |
| Keywords: | FAVAR;stochastic volatility;uncertainty shocks;regional effects |
| Issue Date: | 5-Jun-2018 |
| Publisher: | Wiley |
| Citation: | Mumtaz, H., Sunder-Plassmann, L. and Theophilopoulou, A. (2018) 'The State-Level Impact of Uncertainty Shocks', Journal of Money, Credit and Banking, 50(8), pp. 1880-1899. doi: 10.1111/jmcb.12509. |
| Abstract: | This paper estimates the impact of uncertainty shocks on real income growth in U.S. states. Our results suggest that the effect is heterogeneous. The magnitude of the decline in income is largest in states with a large share of manufacturing and construction industries, a larger share of small firms, a high fiscal deficit, a less rigid labor market, and a more volatile housing market. In contrast, a higher share of mining industries and larger intergovernmental fiscal transfers ameliorate the impact of uncertainty. |
| URI: | https://bura.brunel.ac.uk/handle/2438/17432 |
| DOI: | https://doi.org/10.1111/jmcb.12509 |
| ISSN: | 0022-2879 |
| Appears in Collections: | Dept of Economics and Finance Research Papers |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Fulltext.pdf | This is the peer reviewed version of the following article: The State-Level Impact of Uncertainty Shocks, which has been published in final form at https://doi.org/10.1111/jmcb.12509. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving. | 1.19 MB | Adobe PDF | View/Open |
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