Özet:

Although the literature on research examining the economic consequences of the Covid-19 pandemic has developed rapidly, quantitative evidence for the effects of uncertainty on economic activity is still limited. The main purpose of this study is to examine the current literature by considering macroeconomic uncertainty in the context of Covid-19 and to synthesize the findings from the studies. Since the pandemic is still an ongoing process, the literature is growing rapidly, and therefore, it is hoped that it will facilitate studies investigating the links of Covid-19 with the economy by examining and synthesizing the main findings of the studies. The general scope of the study is to define the theoretical and conceptual framework for uncertainty, to examine the empirical literature before and after Covid-19 on the measurement of macroeconomic uncertainty as a qualitative research. According to the research results in the relevant literature, there is an expectation that economic units adopt a "wait and see" attitude, as the pandemic reduces confidence in economic activity and markets. The uncertainty created by Covid-19 significantly affects the economy and monetary policy management through various macroeconomic channels. It has been revealed that increasing uncertainty leads to permanent decreases in employment, price instability, deterioration in exchange rates and economic stagnation.