Anzuini, Alessio; Rossi, Luca; Tommasino, Pietro - 2017
Economic uncertainty is an important factor behind macroeconomic fluctuations: in an uncertain environment, firms … save. In the present paper, we study the effects of the uncertainty which arises from fiscal policy decisions. We propose a … new measure of fiscal policy uncertainty (FPU). In particular, we estimate a fiscal reaction function, allowing the …