WebAbstract. We study the transmission of fiscal policy under imperfect information where government spending is composed of permanent and transitory components. A WebIn this paper, we investigate the influence of fiscal policy uncertainty in the propagation of government spending shocks in the US economy. We propose a new index to measure fiscal policy uncertainty which relies on the dispersion of government spending forecasts as presented in the Survey of Professional Forecasters (SPF). This new index is solely …
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WebGiovanni Ricco‡ University of Warwick, CEPR and OFCE-SciencesPo First Version: 31 May 2024 This version: 1 March 2024 Abstract We quantify global US monetary policy … WebGiovanni Ricco Information and Policy Shocks in Monetary Surprises The GitHub Repository contains time series at monthly frequency of the high-frequency instruments for monetary … WebThis monetary shock is identified in three different ways: via the average surprise of market operators on the day of the announcement (blue dots), via a narrative approach that consists of extracting the unexplained component of the central banks’ forecasts of a change in interest rates (orange dots), and using the method of Miranda-Agrippino and Ricco (2024), … orchids temperature tolerance