The economic costs of the Covid-19 crisis will crucially depend on the evolution of financial and economic uncertainty. This blog presents a dashboard to track uncertainty in the US economy and compare the ongoing crisis to the 1987 and 2008 financial crises.
Updated from March 26 post.

More than three years after the Brexit referendum, Brexit is still not settled, but the uncertainty remains. This long period of uncertainty has cost around half a point of economic growth per year since 2016 for the UK’s economy, which is equivalent to an annual loss of £16 billion.

The election of Donald Trump has generated a climate of uncertainty about U.S. economic policy that will be implemented in the near future. How much should we worry about this “Trumpian uncertainty”?

IMF cuts global growth forecasts following Brexit vote. Paul Krugman has taken a different point of view by arguing there is no reason to worry in the immediate future. This opposition reflects clearly two different opinions on the short-term consequences of uncertainty.

Once again, the Federal Reserve has postponed the date of exit from the zero lower bound. We show that the pace of the tightening cycle matters more than the exact timing of the first interest rate hike for the macroeconomy.