| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w30288 |
| 来源ID | Working Paper 30288 |
| The Effect of Macroeconomic Uncertainty on Firm Decisions | |
| Saten Kumar; Yuriy Gorodnichenko; Olivier Coibion | |
| 发表日期 | 2022-07-25 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Using a new survey of firms in New Zealand, we document how exogenous variation in the macroeconomic uncertainty perceived by firms affects their economic decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of future economic growth to generate exogenous changes in the perceived macroeconomic uncertainty of some firms. The effects on their decisions relative to their initial plans as well as relative to an untreated control group are measured in a follow-up survey six months later. We find that as firms become more uncertain, they reduce their prices, employment, and investment, their sales decline, and they become less likely to invest in new technologies or open new facilities. These ex-post effects of uncertainty are similar to how firms say they would respond to higher uncertainty when asked hypothetical questions. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles |
| URL | https://www.nber.org/papers/w30288 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587960 |
| 推荐引用方式 GB/T 7714 | Saten Kumar,Yuriy Gorodnichenko,Olivier Coibion. The Effect of Macroeconomic Uncertainty on Firm Decisions. 2022. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w30288.pdf（1970KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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