Browsing BI Research Centre's Series by Author "Lin, Xiaoji"

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    • The Finance Uncertainty Multiplier 

      Alfaro, Iván; Bloom, Nicholas; Lin, Xiaoji (HOFIMAR Working Paper Series; 1/2023, Working paper, 2023)
      We show how real and financial frictions amplify, prolong and propagate the negative impact of uncertainty shocks. We first use a novel instrumentation strategy to address endogeneity in estimating the impact of uncertainty ...