Title of article
The welfare cost of macroeconomic uncertainty in the post-war period
Author/Authors
Jo?o Victor Issler، نويسنده , , Afonso Arinos de Mello Franco-Neto، نويسنده , , Osmani Teixeira de Carvalho Guillén، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2008
Pages
9
From page
167
To page
175
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.
Keywords
Beveridge–Nelson decomposition , cointegration , Welfare costs of business cycles
Journal title
Economics Letters
Serial Year
2008
Journal title
Economics Letters
Record number
436384
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