This paper proposes the volatility of sovereign credit default swaps (CDS) as a measurement of economic uncertainty. Sovereign CDS provide protection against losses from sovereign defaults and are traded for almost all countries by the world’s largest financial institutions. The premium for...

In this study, we develop the first daily news-based Economic Policy Uncertainty (EPU) index for Nigeria, which was previously not covered in recent EPU indices. The need to track economic uncertainties in Nigeria becomes crucial for investment and policy, especially with the renewed interest in...

Macroeconomic uncertainty affects the subjective distribution of individual expectations. Using four panel datasets, we document the effects of macro uncertainty on the mean expectation (first moment) and subjective uncertainty (second moment) of income forecasts. We find that macro uncertainty...

This paper analyzes optimal fiscal policy with ambiguity aversion and endogenous government spending. We show that, without ambiguity, optimal surplus-to-output ratios are acyclical and that there is no rationale for either reduction or further accumulation of public debt. In contrast, ambiguity...

Macroeconomic uncertainty consists of three components: the unobservable, the heterogeneous and the “uncertain”. We are unaware of exactly when economic agents perceive uncertainty and which type of uncertainty interests them. This paper introduces and outlines a way of conducting...

This study develops a new economic uncertainty (EU) index based on Chinese newspapers by addressing the media coverage bias of existing measures. The developed index refines the existing methods on measuring uncertainty by taking special characteristics of China into consideration, which turns...

The institutions improvement is one of principal conditions for the transitional and developing economies growth. This study on the bases of multidisciplinary approach investigates the necessity of using the concept “institutional uncertainty” in economic and social researching, proves that...

The institutions improvement is one of principal conditions for the transitional and developing economies growth. This study on the bases of multidisciplinary approach investigates the necessity of using the concept “institutional uncertainty” in economic and social researching, proves that...

The institutions improvement is one of principal conditions for the transitional and developing economies growth. This study on the bases of multidisciplinary approach investigates the necessity of using the concept “institutional uncertainty” in economic and social researching, proves that...