ECB bulletin emphasises importance of monitoring uncertainty
Increases in uncertainty adversely impact the economy, research says
The European Central Bank's latest economic bulletin highlights the importance of uncertainty, given its potential role as a driver of business cycles.
The research notes that while difficult to "observe and quantify", there is some evidence that increases in uncertainty can "adversely" impact the economy. Results from the study show uncertainty in the euro area rose "substantially" during the sovereign debt crisis and great recession.
"Given its potential role as a driver of business cycles in
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