Blar i BI Research Centre's Series på forfatter "Lin, Xiaoji"
-
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 ...