Caggiano, Giovanni; Castelnuovo, Efrem; Delrio, Silvia; … - 2020
This paper quantifies the finance uncertainty multiplier (i.e., the magnifying effect of the real impact of uncertainty … stress). Working with a VAR framework and a set-identification strategy which focuses on - but it is not limited to … - restrictions related to these two dates, we estimate the finance uncertainty multiplier to be equal to 2, i.e., credit supply …