【演讲者】王哲
【时间】12月9日(周五)下午2:00-3:30
【地点】经院203教室
【演讲者介绍】: 王哲(Ben)博士现任麦考瑞大学经管学院经济系助理教授。他的主要研究方向包括经济预期和动物精神,货币政策,宏观经济的不确定性的衡量及其影响。其他涉及的领域包括衡量经济周期,房市的泡沫与风险,工资粘性和汇率。他曾经是新西兰中央银行,德国洪堡大学和中国社会科学院的访问学者, 并曾担任Social Indicator Research的特刊主编。他的论文已发表在国际领先的期刊上,例如Journal of Macroeconomics, Economic Modelling, Economic Record and Social Indicator Research. 王哲的博士论文曾获得校长优秀论文奖,并在澳大利亚经济学年会上取得最佳论文奖。他的博士毕业于麦考瑞大学,在此之前他在悉尼大学取得经济硕士(Honours) ,在麦考瑞大学取得经济学士和企业管理的双学位。
【题目】Measuring macroeconomic uncertainty from surveys - A mixed frequency approach
【摘要】We propose a new method of measuring economic uncertainty, using dispersions of forecasts from both household and professional surveys of various frequencies. With a mixed-frequency state-state model, we construct an uncertainty measure of the perceived current state of the US economy and an uncertainty measure of the one-year ahead expected state of the economy. Although distinctively constructed, we show our measures of uncertainty are highly correlated with most other existing measures. Impulse responses show uncertainty shocks lead to contraction in economic activity, and monetary policy expansion reduces uncertainty. Therefore endogenous uncertainty is an additional channel for countercyclical monetary policy.
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