Has Economic Policy Uncertainty Slowed Down the World Economy?

Has Economic Policy Uncertainty Slowed Down the World Economy?

This study details the effects of policy conflicts and fiscal crises in the United States and Europe. The impact of economic policy on the economy is measured to generate a proxy for policy uncertainty using three groups of observable measures and combining them into one index of Economic Policy Unc...

Full description

Bibliographic Details
Main Author: Bloom, Nicholas
Format: Brief
Language:en_US
Published: World Bank, Washington, DC 2013
Subjects:
economic policy uncertainty
Beige Book
Federal Open Market Committee
economic cycle
political polarization
Online Access:http://hdl.handle.net/10986/16363
id okr-10986-16363
recordtype oai_dc
spelling okr-10986-163632021-04-23T14:03:28Z Has Economic Policy Uncertainty Slowed Down the World Economy? Bloom, Nicholas economic policy uncertainty Beige Book Federal Open Market Committee economic cycle political polarization This study details the effects of policy conflicts and fiscal crises in the United States and Europe. The impact of economic policy on the economy is measured to generate a proxy for policy uncertainty using three groups of observable measures and combining them into one index of Economic Policy Uncertainty (EPU). This is achieved by (1) compiling newspaper coverage of policy-related economic uncertainty in ten major US newspapers; (2) depicting accurate reflections of federal tax code provisions which are set to expire in a few years according to the Congressional Budget Office list; and (3) aggregating and exanimating disagreements among economic forecasters in the Philadelphia Federal Reserve’s Survey of Professional Forecasters. Looking ahead, the authors conclude that economic policy uncertainty is the new normal in the United States, Europe and in OECD countries as well. 2013-12-05T21:39:42Z 2013-12-05T21:39:42Z 2013-01-16 http://hdl.handle.net/10986/16363 en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research Europe and Central Asia
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language en_US
topic economic policy uncertainty
Beige Book
Federal Open Market Committee
economic cycle
political polarization
spellingShingle economic policy uncertainty
Beige Book
Federal Open Market Committee
economic cycle
political polarization
Bloom, Nicholas
Has Economic Policy Uncertainty Slowed Down the World Economy?
geographic_facet Europe and Central Asia
description This study details the effects of policy conflicts and fiscal crises in the United States and Europe. The impact of economic policy on the economy is measured to generate a proxy for policy uncertainty using three groups of observable measures and combining them into one index of Economic Policy Uncertainty (EPU). This is achieved by (1) compiling newspaper coverage of policy-related economic uncertainty in ten major US newspapers; (2) depicting accurate reflections of federal tax code provisions which are set to expire in a few years according to the Congressional Budget Office list; and (3) aggregating and exanimating disagreements among economic forecasters in the Philadelphia Federal Reserve’s Survey of Professional Forecasters. Looking ahead, the authors conclude that economic policy uncertainty is the new normal in the United States, Europe and in OECD countries as well.
format Publications & Research :: Brief
author Bloom, Nicholas
author_facet Bloom, Nicholas
author_sort Bloom, Nicholas
title Has Economic Policy Uncertainty Slowed Down the World Economy?
title_short Has Economic Policy Uncertainty Slowed Down the World Economy?
title_full Has Economic Policy Uncertainty Slowed Down the World Economy?
title_fullStr Has Economic Policy Uncertainty Slowed Down the World Economy?
title_full_unstemmed Has Economic Policy Uncertainty Slowed Down the World Economy?
title_sort has economic policy uncertainty slowed down the world economy?
publisher World Bank, Washington, DC
publishDate 2013
url http://hdl.handle.net/10986/16363
_version_ 1764432976231268352

Similar Items