We investigate whether the macroeconomic effects of government spending shocks vary with the level of uncertainty … effects in tranquil times but is contractionary during uncertain times. The endogenous reaction of macroeconomic uncertainty … other types of government spending, research and development expenditures reduce uncertainty and have an expansionary effect …

We investigate whether the macroeconomic effects of government spending shocks vary with the level of uncertainty … effects in tranquil times but is contractionary during uncertain times. The endogenous reaction of macroeconomic uncertainty … spending, research and development expenditures reduce uncertainty and have an expansionary effect on output during uncertain …

estimate a large-scale FAVAR model for 18 OECD member countries. We quantify the global effects of economic policy uncertainty … and financial sector effects of uncertainty. In that respect, we compare the impacts of a US and a Euro area uncertainty … shock. According to our results, an increase in uncertainty has a strong negative impact on economic activity, consumer …