Measuring and assessing economic uncertainty

This paper evaluates the dynamic response of economic activity to shocks in uncertainty as percieved by agents.The study focuses on the comparison between the perception of economic uncertainty by manufacturers and consumers.Since uncertainty is not directly observable, we approximate it using the geometric discrepancy indicator of Claveria et al.(2019).This approach allows us quantifying the proportion of disagreement in business and consumer expectations of eleven European countries and the Eu...