Footnote:
In: International Journal of Forecasting, Forthcoming
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 1, 2018 erstellt
Description:
We propose a new measure of macroeconomic uncertainty that incorporates a rich information set from U.S. SPF density forecasts. Our measure has two key advantages over traditional measures: (i) it reflects the subjective perceptions of market participants; (ii) it is an ex ante measure that does not require the knowledge of realized outcomes. We study the features of this measure of macroeconomic uncertainty and explore its impact on real economic activities within U.S. and its spillover effects for BRIC countries