financial variables changes the model dynamics and delivers price responses which are more in line with economic theory. A …

positive impact on uncertainty levels that is, in particular, weaker than the impact of the real business cycle shock. Taking a … policy uncertainty decreases after a lockdown shock. …

Risk classification refers to the use of observable characteristics by insurers to group individuals with similar … expected claims, to compute the corresponding premiums, and thereby to reduce asymmetric information. Permitting risk … undesirable equity consequences and undermine the implicit insurance against reclassification risk which legislated restrictions …

investment. Hence, FR can either amplify or dampen output response to the shock, depending on whether this shock increases or …

standard neoclassical growth model with US data and assume that an exogenous shock has driven aggregate output far below steady … the generality of this result w.r.t. size and persistence of the shock, size of the government spending multiplier, and …