Why Has U.S. Policy Uncertainty Risen Since 1960? / Scott R. Baker, Nicholas Bloom, Brandice Canes-Wrone, Steven J. Davis, Jonathan A. Rodden.

Format:

Book

Author/Creator:

Baker, Scott R.

Contributor:

National Bureau of Economic Research.

Bloom, Nicholas.

Canes-Wrone, Brandice.

Davis, Steven J.

Rodden, Jonathan A.

Series:

Working Paper Series (National Bureau of Economic Research) no. w19826.

NBER working paper series no. w19826

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2014.

Summary:

There appears to be a strong upward drift in policy-related economic uncertainty after 1960. We consider two classes of explanations for this rise. The first stresses growth in government spending, taxes, and regulation. A second stresses increased political polarization and its implications for the policy-making process and policy choices. While the evidence is inconclusive, it suggests that both factors play a role in driving the secular increase in policy uncertainty over the last half century.

Notes:

Print version record

January 2014.