Caldara, Dario; Fuentes-Albero, Cristina; Gilchrist, Simon - 2016
macroeconomic instability. In their place, economists have singled out financial and uncertainty shocks as potentially important … increases in economic uncertainty are strongly associated with a widening of credit spreads, an indication of a tightening in … financial conditions and economic uncertainty and to trace out the impact of these two types of shocks on the economy. The …