Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5062102 | Economics Letters | 2008 | 9 Pages |
Abstract
With standard assumptions on preferences and a fully-fledged econometric model we computed the welfare costs of macroeconomic uncertainty for post-war U.S. using the Beveridge-Nelson decomposition. Welfare costs are about 0.9% per-capita consumption ($175.77 a year) and marginal welfare costs are about twice as large.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
João Victor Issler, Afonso Arinos de Mello Franco-Neto, Osmani Teixeira de Carvalho Guillén,