No sooner does this morning’s “Uncertainty” piece go up when someone emails me this “quantified” version of uncertainty.
The claim is made that “Nick Bloom and Scott Baker of Stanford University and Steve Davis of the University of Chicago” have figured out how to measure uncertainty:
This is merely an index of how often uncertainty (related to policy) gets mentioned in newspapers. They also include other elements (number of temporary provisions in tax codes and variance in inflation and federal spending forecasts).
Note how much uncertainty there was in 2000 and 2007 — periods of low uncertainty where investors were not rewarded for the risk they took . . .
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.