Article ID Journal Published Year Pages File Type
7348483 Economics Letters 2018 5 Pages PDF
Abstract
We implement natural language processing techniques to extract uncertainty measures from Federal Reserve Beige Books between 1970 and 2018. Business and economic related uncertainty is associated with future weakness in output, higher unemployment, and elevated term premia. On the other hand, political and government uncertainty, while high during recent times, has no statistically significant impact on the economy.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
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