News and uncertainty about COVID-19: Survey evidence and short-run economic impact.
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ABSTRACT:
SUBMITTER: Dietrich AM
PROVIDER: S-EPMC8827064 | biostudies-literature | 2022 Jul
REPOSITORIES: biostudies-literature
Publications
News and uncertainty about COVID-19: Survey evidence and short-run economic impact.
Dietrich Alexander M AM Kuester Keith K Müller Gernot J GJ Schoenle Raphael R
Journal of monetary economics 20220209
A tailor-made survey documents consumers' perceptions of the US economy's response to a large shock: the advent of the COVID-19 pandemic. The survey ran at a daily frequency between March 2020 and July 2021. Consumer's perceptions regarding output and inflation react rapidly. Uncertainty is pervasive. A business-cycle model calibrated to the consumers' views provides an interpretation. The rise in household uncertainty accounts for two-thirds of the fall in output. Different perceptions about mo ...[more]
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