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100			_aGarcia, Danilo Cascaldi et al _943708
245			_aWhat is certain about uncertainty?
260			_aJournal of Economic Literature
300			_a61(2), Jun, 2023: p.624-654
520			_aThis paper provides a comprehensive survey of existing measures of uncertainty, risk, and volatility, noting their conceptual distinctions. It summarizes how they are constructed, their relative advantages in usage, and their effects on financial market and economic outcomes. The measures are divided into four categories based on the construction methodology: news-based, survey-based, econometric-based, and market-based measures. While heightened uncertainty is typically associated with negative real and financial outcomes, the magnitude of these effects and the interpretation of transmission channels crucially depend on identification considerations This paper thoroughly examines various measures of uncertainty, risk, and volatility. It highlights their conceptual differences and outlines how they are created, their relative benefits, and their impact on financial markets and economic results. These measures fall into four categories: news-based, survey-based, econometric-based, and market-based. While increased uncertainty usually correlates with adverse real and financial consequences, the extent of these effects and their interpretation hinge on identification factors..- Reproduced
650			_aUncertainty, Risk, Volatility, Measures, Construction methodology News-based Survey-based, Econometric-based, Market-based Identification, considerations _943709
773			_aJournal of Economic Literature
906			_aECONOMICS
942			_cAR