Models of microeconomic consumption (including those used in heterogeneous-agent macroeconomic models) typically calibrate the size of income risk to match panel data on household income dynamics. But, for several reasons, what is measured as risk from such data may not correspond to the risk...

Studies mainly focus on measuring the uncertainty of economic policy in different countries. However, few studies have focused on the construction of an environmental policy uncertainty index (EPUI). This study selects 460 newspapers from the China National Knowledge Infrastructure newspaper...

This paper studies the behaviors of uncertainty through the lens of several popular models of expectation formation. The full-information rational expectations model (FIRE) predicts that both the ex ante uncertainty and the variance of ex post forecast errors are equal to the conditional...