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With the increasing share of volatile renewable energies, weather prediction becomes more important to electricity … markets. The weather-driven uncertainty of renewable forecast errors could have price increasing impacts. This research sets … weather types and their renewable production uncertainty is proved via empirical methods. Weather types are identified in …
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county-level uncertainty shock, we find that local uncertainty shocks reduce county-level durable consumption. Taken together …
Persistent link: https://www.econbiz.de/10013299220
policy has dampened real effects via the investment channel when firm-level TFP shock volatility is high. Our estimates for …How does the dispersion of firm-level shocks affect the investment channel of monetary policy? Using firm-level panel …-frequency identified monetary policy shocks with these measures of idiosyncratic shock volatility. We document a novel fact: monetary …
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We propose a new instrument to identify uncertainty shocks in a SVAR model with external instruments. The instrument is constructed by exploiting variations in the price of gold around events that capture periods of changes in uncertainty. The variations in the price of gold around the events...
Persistent link: https://www.econbiz.de/10011602536
This paper deals with three aspects of spectacular oil price episodes such as the one witnessed in 2008. First, the concept of temporary explosiveness is proposed as an empirical method for capturing this type of behavior. The application of a recently proposed recursive unit root test shows...
Persistent link: https://www.econbiz.de/10009786017
volatility, and swings in foreign investment – play important roles in the transmission of uncertainty shocks …
Persistent link: https://www.econbiz.de/10012898238