研究期間：10208~10307;We investigate the impact of uncertain fiscal policy on economic aggregate activities in a DSGE model. Our model is an extension to the news-driven model that allows news to fiscal adjustments to be uncertain in nature. The uncertainty, or risk, to fiscal adjustment is specified as a stochastic coefficient to the news shock in a fiscal policy instrument equation. As a result, fiscal news is no more fully-foresighted, a more realistic feature to be considered. Calibration and Bayesian estimation are conducted based on this model. The outcome of this research can help us make accurate fiscal policy evaluation and draw important implications for economic stabili
