NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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The Macroeconomic Impact of Financial and Uncertainty Shocks

Dario Caldara, Cristina Fuentes-Albero, Simon Gilchrist, Egon Zakrajšek

NBER Working Paper No. 22058
Issued in March 2016

---- Acknowledgments ----

We are especially grateful to Johannes Pfeifer and Jim Stock for detailed comments and suggestions. We also thank Nicholas Bloom, Robert Kollman, Eric Leeper, Tommaso Monacelli, Werner Roeger, and participants at numerous seminars and conferences for helpful comments. George Gu, Edward Kim, Shaily Patel, and Rebecca Zhang provided outstanding research assistance at various stages of this project. All errors and omissions are our own responsibility. The views expressed in this paper are solely the responsibility of the authors and should not be interpreted as reflecting the views of the Board of Governors of the Federal Reserve System, anyone else associated with the Federal Reserve System, or the National Bureau of Economic Research.

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