NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Uncertainty and Business Cycles: Exogenous Impulse or Endogenous Response?

Sydney C. Ludvigson, Sai Ma, Serena Ng

NBER Working Paper No. 21803
Issued in December 2015, Revised in May 2019

---- Acknowledgments ----

The views expressed are those of the authors and do not necessarily reflect those of the Federal Reserve Board or the Federal Reserve System or the National Bureau of Economic Research.

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