In some ways, policy uncertainty — at least as measured using text — is not as bad as I would’ve thought. Here’s the Baker-Bloom-Davis index: Figure 1: UK Economic Policy Uncertainty (blue), and centered 7 day moving average (red). ECRI defined recession dates shaded gray. Source: policyuncertainty.com, ECRI and author’s calculations. The 9/27 value of … Continue reading UK Measured Economic Policy Uncertainty in Context