NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Really Uncertain Business Cycles

Nicholas Bloom, Max Floetotto, Nir Jaimovich, Itay Saporta-Eksten, Stephen J. Terry

NBER Working Paper No. 18245
Issued in July 2012

---- Acknowledgements -----

This is a finished version of a prior draft by Bloom, Floetotto and Jaimovich which was suspended in 2010 after Floetotto left academia. Any opinions and conclusions expressed herein are those of the authors and do not necessarily represent the views of the U.S. Census Bureau. All results have been reviewed to ensure that no confidential information is disclosed. We thank our formal discussants Sami Alpanda, Eduardo Engel, Frank Smets, and Eric Swanson; Angela Andrus at the RDC; as well as numerous seminar audiences for comments. Funding for this project was kindly provided by the National Science Foundation. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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