Economic Recovery and Policy Uncertainty in the US

Scott Ross Baker, Nicholas Bloom, Steven J. Davis, John Van Reenen

Research output: Contribution to journalEditorial


The US recovery is painfully slow and monetary policy is at its limits. Pervasive economic uncertainty appears to be holding the US back. But what is the root cause of this uncertainty? This column argues that a polarised political system is to blame. Without a political mechanism that incentivises the election of moderate politicians, the authors predict further political divergence between Republicans and Democrats over the coming years and a consequent intensification of policy uncertainty.
Original languageEnglish (US)
StatePublished - Oct 29 2012


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