01860cas a2200253 a 4500 AALejournalIMF013425 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475552690 1018-5941 BD-DhAAL BD-DhAAL Denis, Stephanie. The Impact of Uncertainty Shocks on the UK Economy / Stephanie Denis, Prakash Kannan. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (24 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper quantifies the economic impact of uncertainty shocks in the UK using data that span the recent Great Recession. We find that uncertainty shocks have a significant impact on economic activity in the UK, depressing industrial production and GDP. The peak impact is felt fairly quickly at around 6-12 months after the shock, and becomes statistically negligible after 18 months. Interestingly, the impact of uncertainty shocks on industrial production in the UK is strikingly similar to that of the US both in terms of the shape and magnitude of the response. However, unemployment in the UK is less affected by uncertainty shocks. Finally, we find that uncertainty shocks can account for about a quarter of the decline in industrial production during the Great Recession. Mode of access: Internet Kannan, Prakash. IMF Working Papers; Working Paper ; No. 2013/066 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/066/001.2013.issue-066-en.xml IMF e-Library