Digitalni repozitorijum
Univerziteta u Beogradu
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Economic uncertainty in Serbia
Maksimović, Emilija,
Mladenović, Zorica
Rakonjac-Antić, Tatjana
Over the past two decades, several major events, including the global financial crisis, Brexit, the US-China trade war, the COVID-19 pandemic and the Russian invasion of Ukraine, have significantly increased global uncertainty and impacted economies around the world. Increased uncertainty can strongly influence the decisions and behaviour of market participants and policy makers. High levels of uncertainty about future economic conditions may cause compa-nies to postpone investment and hiring, while consumers concerned about their future income and job security may respond by saving more and spending less. As uncertainty increases, investors expect higher returns for greater risk, which ultimately drives up financing costs.163 In addition, some studies suggest that as uncertainty increases, economic agents tend to react less quickly to business changes, reducing the effectiveness of monetary and fiscal policy.164 Since uncertainty influences economic development, every economy has an interest in developing an indicator that monitors changes in uncertainty. A central question in empirical research is how to measure uncertainty, and in recent years, this topic has been widely studied by researchers. Various approaches to measuring uncertainty have been developed. The result is indicators that capture uncertainty in economic factors such as macroeconomic uncertainty, monetary policy uncertainty, inflation uncertainty, economic policy uncertainty and more.
engleski
2025
Ovo delo je licencirano pod uslovima licence
Creative Commons CC BY-NC-ND 4.0 - Creative Commons Autorstvo - Nekomercijalno - Bez prerada 4.0 International License.
http://creativecommons.org/licenses/by-nc-nd/4.0/legalcode
Key words: econometrica, economic uncertainty, Serbia
170346761