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Measuring Economic Policy Uncertainty
example, the Federal Open Market Committee (2009) and the IMF (2012, 2013) suggest that uncertainty about U.S. and European fiscal, regulatory, and monetary policies contributed to a steep economic decline in 2008-09 and slow recoveries afterwards.1 To investigate the role of policy uncertainty, we first develop an index of economic
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MEASURING ECONOMIC POLICY UNCERTAINTY …
www.policyuncertainty.comMeasuring Economic Policy Uncertainty Scott R. Baker, Nicholas Bloom, and Steven J. Davis NBER Working Paper No. 21633 October 2015 JEL No. D80,E22,E66,G18,L50
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