The Cost of Uncertainty
The traditional and most common view of economists on the issue of (bad) uncertainty and its effects has been one of partial equilibrium. When the topic is approached from a macroeconomic perspective, the most frequent has been the examination of the effects of uncertainty shocks on short-term dynam...
- Autores:
-
Posada, Carlos Esteban
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2024
- Institución:
- Universidad EAFIT
- Repositorio:
- Repositorio EAFIT
- Idioma:
- eng
- OAI Identifier:
- oai:repository.eafit.edu.co:10784/34627
- Acceso en línea:
- https://hdl.handle.net/10784/34627
- Palabra clave:
- Interest rate
Investment
Output growth rate
Risk
Savings
Uncertainty
- Rights
- License
- Acceso abierto
| Summary: | The traditional and most common view of economists on the issue of (bad) uncertainty and its effects has been one of partial equilibrium. When the topic is approached from a macroeconomic perspective, the most frequent has been the examination of the effects of uncertainty shocks on short-term dynamics with various methods, but mainly with neoKeynesian and statistical (vector autoregressive) models. This document responds to another concern and has two objectives: 1) to reflect on this issue with some instruments of the macroeconomist´s toolbox related to a medium or long-term horizon, and 2) report a ciphering of the social cost of uncertainty in the Colombian case. |
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