Uncertainty Shocks in a Model of Effective Demand
---- Acknowledgements ----
We thank Nick Bloom, David Chapman, Fabio Ghironi, José Mustre-del-Río, Taisuke Nakata, Julio Rotemberg, Andrew Lee Smith, Stephen Terry, Christina Wang, and Jonathan Willis for helpful discussions. We also thank our formal discussants, Robert Barro, Liam Graham, Cosmin Ilut and Johannes Pfeiffer for their insights, and Johannes Pfeifer for pointing out an error in a previous draft. We have benefited from comments made by participants at various conferences and seminars. We thank Daniel Molling and Trenton Herriford for excellent research assistance. The views expressed herein are solely those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of Kansas City, the Federal Reserve System, or the National Bureau of Economic Research.