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Bloom, Nicholas - 2013

This review article tries to answer four questions: (i) what are the stylized facts about uncertainty over time; (ii) why does uncertainty vary; (iii) do fluctuations in uncertainty matter; and (iv) did higher uncertainty worsen the Great Recession of 2007-2009? On the first question both macro...

Persistent link: https://www.econbiz.de/10012458949

What Triggers Stock Market Jumps?

Baker, Scott; Bloom, Nicholas; Davis, Steven J.; … - National Bureau of Economic Research - 2021

market performance in the preceding three months. This pattern strengthens in the postwar period. Third, market volatility is … volatility and other controls. Fourth, greater clarity as to jump reason also foreshadows lower volatility. Clarity in this sense …

Persistent link: https://www.econbiz.de/10012510565

Policy News and Stock Market Volatility

Baker, Scott R. - 2019

We create a newspaper-based Equity Market Volatility (EMV) tracker that moves with the VIX and with the realized … volatility of returns on the S&P 500. Parsing the underlying text, we find that 72 percent of EMV articles discuss the … Macroeconomic Outlook, and 44 percent discuss Commodity Markets. Policy news is another major source of volatility: 35 percent of …

Persistent link: https://www.econbiz.de/10012479671

Why Does Idiosyncratic Risk Increase with Market Risk?

Bartram, Söhnke M. - 2016

relation has roots in fundamentals as higher market risk predicts greater idiosyncratic earnings volatility and as firm …

Persistent link: https://www.econbiz.de/10012456185

Measuring Economic Policy Uncertainty

Baker, Scott R. - 2015

find that policy uncertainty raises stock price volatility and reduces investment and employment in policy …

Persistent link: https://www.econbiz.de/10012457036

Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments

Baker, Scott R. - 2013

data on stock market levels and volatility as proxies for the first and second moments of business conditions. We then use …

Persistent link: https://www.econbiz.de/10012459187

The Impact of COVID-19 on US Firms

Bloom, Nicholas; Fletcher, Robert S.; Yeh, Ethan - National Bureau of Economic Research - 2021

We use survey data on an opt-in panel of around 2,500 US small businesses to assess the impact of COVID-19. We find a significant negative sales impact that peaked in Quarter 2 of 2020, with an average loss of 29% in sales. The large negative impact masks significant heterogeneity, with over 40%...

Persistent link: https://www.econbiz.de/10012482532

Failing the Test? The Flexible U.S. Job Market in the Great Recession

Freeman, Richard B. - 2013

The Great Recession tested the ability of the "great U.S. jobs machine" to limit the severity of unemployment in a major economic downturn and to restore full employment quickly afterward. In the crisis the American labor market failed to live up to expectations. The level and duration of...

Persistent link: https://www.econbiz.de/10012459074

Surveying Business Uncertainty

Altig, David - 2019

We elicit subjective probability distributions from business executives about their own-firm outcomes at a one-year look-ahead horizon. In terms of question design, our key innovation is to let survey respondents freely select support points and probabilities in five-point distributions over...

Persistent link: https://www.econbiz.de/10012479906

Skewed Business Cycles

Salgado, Sergio - 2019

Using firm-level panel data from the US Census Bureau and almost fifty other countries, we show that the skewness of the growth rates of employment, sales, and productivity is procyclical. In particular, during recessions, they display a large left tail of negative growth rates (and during...

Persistent link: https://www.econbiz.de/10012480509