HIGHLIGHTS
- who: JEL Classification C et al. from the (UNIVERSITY) have published the paper: Expected, unexpected, good and bad aggregate uncertainty, in the Journal: (JOURNAL)
- what: By distinguishing between four general notions of aggregate uncertainty good-unexpected bad-unexpected) within a simple common framework the authors show that it is bad-unexpected uncertainty shocks that generate a negative reaction of economic variables (such as investment and consumption) and asset prices. The work has been developed out of the theoretical and empirical ideas formulated by Segal, Shaliastovich, and Yaron and Berger, Dew-Becker, and Giglio . The authors . . .
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