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Cited by 434

The DOI matches its Crossref record; 42 of the 42 references it cites were found in a registry or an index.

Uncertainty and Business Cycles: Exogenous Impulse or Endogenous Response?

Open access
Ludvigson, Sydney, Ma, Sai, Ng, Serena·2015·National Bureau of Economic Research
DOI 10.3386/w21803
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Abstract

Uncertainty about the future rises in recessions.But is uncertainty a source of business cycles or an endogenous response to them, and does the type of uncertainty matter?We propose a novel SVAR identification strategy to address these questions via inequality constraints on the structural shocks.We find that sharply higher macroeconomic uncertainty in recessions is often an endogenous response to output shocks, while uncertainty about financial markets is a likely source of output fluctuations.But the findings also suggest that macroeconomic uncertainty plays an important role in recessions, by substantially amplifying downturns caused by other shocks.

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Metadata

Authors
Ludvigson, S., Ma, S., & Ng, S.
Venue
National Bureau of Economic Research
Publisher
National Bureau of Economic Research
Published
2015-12
DOI
10.3386/w21803
OpenAlex
W2201292367
Cited by
434
References
42
Type
report
Language
en
Open access
green

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CoChat. (2026). Citation check: Uncertainty and Business Cycles: Exogenous Impulse or Endogenous Response? https://app.cochat.ai/papers/10.3386/w21803
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Ludvigson, S., Ma, S., & Ng, S. (2015). Uncertainty and Business Cycles: Exogenous Impulse or Endogenous Response? National Bureau of Economic Research. https://doi.org/10.3386/w21803

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