Global levels of uncertainty have recently increased in an unprecedented manner. The news-based Uncertainty Perception Indicator (UPI) does not only forecast such shocks, but it can help to identify the drivers of perceived uncertainty originating from different areas of the economy. Using the...

We investigate if originating banks increase the complexity of European Mortgage Backed Securities (MBS) to obfuscate low securitization quality. When measuring securitization complexity with traditionally used proxies, we find no worse performance of more complex MBS. However, we provide...