Uncertainty has limited impact on British economy
July 08, 2019 08:45 Source: "China Social Sciences" July 8, 2019, No. 1729, author:

Comprehensive foreign media reports on July 1,The official website of the French International Outlook and Information Research Center publishes an article by Fabien Tripier, a professor of economics at Evri University in France。The author said,The result of the "Brexit" referendum held in June 2016 has caused the British economy to fall into an uncertain state in the past three years,How much does this uncertainty has on the British economy,You need to answer the questions in two aspects。

On the one hand, how to measure political uncertainty bet365 best casino games level。Northwestern University Cylug Business School Associate Professor Scott R. Baker、Nicholas Bloom, a professor of economics at Stanford University, and Steven J. Davis, a professor of international business and economics at the University of Chicago, jointly proposed a measuring political uncertainty method。Number of articles published in the statistical newspaper containing "economic", "political", "uncertainty" and other terms,Calculate the proportion of such articles to account for the total number of posts,to evaluate the uncertainty of politics。This method is suitable for different countries、Different periods,It also helps continuous observation。

On the other hand, how to measure the impact of this uncertainty on Bet365 app download the economy。This requires a causal relationship between uncertainty and economic performance。Due to the characteristics of the economic environment itself, it will also affect uncertainty,The deterioration of the economic environment is often accompanied by the rise of economic policy uncertainty,So,Need to use different strategies to sort out the relationship between uncertainty and economic phenomena。

The impact of uncertainty on some participants in the economic activity will be quickly reflected,If the exchange rate or the stock market responds to the factors that bring uncertainty, it is very fast,Investment and production behavior has natural inertia,The reaction to the factors that bring uncertainty is at least one month later than the stock market。bet365 Play online games So,The difference in reaction speed between various participants in economic activities can be used to conduct an anti -factual experiment,The trajectory of economic development through comparison under comparison under uncertain changes,Effect of quantitative uncertainty。

Experimental results indicate,2016-2018 The average annual growth rate of the British economy is 1.9%,​​without the problem of uncertainty,The average annual growth rate of the British economy can reach 2.3%,This means in these 3 years,The average annual growth rate of the British economy decreased by 0.4 percentage points,Domestic GDP, which lost 0.8%per year。In view of the average annual domestic product of Britain is about 2 trillion pounds,It can be seen that since bet365 live casino games 2016,Uncertainty has brought an annual cost of about 16 billion pounds to Britain。These numbers indicate,Although uncertainty is not conducive to British economic development,but it does not cause the British economy to fall into a deep decline。

But,Even if political uncertainty will not cause serious recession,Its impact on the economy is still very important,Relevant agencies still need to focus on such problems when formulating policies,Reduce economic costs。

(Yao Xiaodan/Compilation)

Editor in charge: Cui Cen
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