Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments

By Scott R. Baker, Nicholas Bloom. 2013

339 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/9b800116b1fc904d75096d8b2f53d50501bb61b2

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Citations in the corpus

Policy uncertainty and loan loss provisions in the banking industry (2020, positive): “…because bank managers expect more future loan defaults when PU is high given its expected depressive effects on the real economy at both the macro and micro levels (e.g., Bloom, 2009; Bloom et al., 2012; Baker and Bloom, 2013; Bachmann, Elstener and Sims, 2013; Baker, Bloom and Davis, 2016).”
Economic uncertainty and bank risk: Evidence from emerging economies (2020, neutral): “We borrow the data of these two series from Baker and Bloom (2013) and extend them to 2016 by referring to the database from the Center for Systemic Peace.”
Partisan conflict and private investment (2015, positive): “Baker and Bloom (2013) use natural disasters, terrorist attacks, and political shocks in a panel of countries to instrument their stock market proxies for first and second moment shocks.”
Identifying Uncertainty Shocks Using the Price of Gold (2018, neutral): “…the exclusion restrictions implied by the recursive identification have received substantial criticism, because they impose that no other structural shock contemporaneously affects the variables affected contemporaneously by the uncertainty shock (see Stock and Watson, 2012; Baker and Bloom, 2013).”
On Measuring Uncertainty and its Impact on Investment: Cross-Country Evidence from the Euro Area (2017, background): “2 Descriptive Evidence There is broad indication in the empirical literature that uncertainty is countercyclical (see Baker and Bloom, 2013, for an overview). Moreover, several studies report a strong comovement of various uncertainty proxies (see, e.g., Born, Breuer, and Elstner, 2016). While these”
Covid-Induced Economic Uncertainty (2020, neutral): “On stock market effects, see Alfaro et al. (2020), Baker et al. (2020) and Toda (2020).”
Measuring Economic Uncertainty and Its Effects (2017, positive): “…of uncertainty on the US economy; Bekaert, Hoerova and Lo Duca (2013) decompose it into a risk aversion component and an uncertainty component to test how monetary policy affects both; and Baker and Bloom (2013) use natural disasters and stock market volatility to assess the effects of uncertainty.”
The pandemic and economic policy uncertainty (2020, background): “One particular stream of research focuses on political uncertainty's macro-level effects on financial markets to reveal that EPU peaks during presidential election periods (Baker & Bloom, 2013; Julio & Yook, 2012).”