Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/210115 
Year of Publication: 
2017
Series/Report no.: 
Working Paper No. 5/2017
Publisher: 
Norges Bank, Oslo
Abstract: 
Uncertainty is acknowledged to be a source of economic fluctuations. But, does the type of uncertainty matter for the economy's response to an uncertainty shock? This paper offers a novel identification strategy to disentangle different types of uncertainty. It uses machine learning techniques to classify different types of news instead of specifying a set of keywords. It is found that, depending on its source, the effects of uncertainty on macroeconomic variable may differ. I find that both good (expansionary effect) and bad (contractionary effect) types of uncertainty exist.
Subjects: 
newspaper
topic model
uncertainty
business cycles
machine learning
JEL: 
D80
E32
E66
Persistent Identifier of the first edition: 
ISBN: 
978-82-7553-971-5
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper
Appears in Collections:

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.