pessimism, optimism, and uncertainty that turn out to critically affect macroeconomic outcomes. Agents in the model are fully … beliefs and allows for an analytical characterization of uncertainty. Shocks to beliefs affect economic dynamics and … uncertainty. We use a prototypical Real Business Cycle to illustrate the methods. …

pessimism, optimism, and uncertainty that turn out to critically affect macroeconomic outcomes. Agents in the model are fully … beliefs and allows for an analytical characterization of uncertainty. Shocks to beliefs affect economic dynamics and … uncertainty. We use a prototypical Real Business Cycle to illustrate the methods. …

learning about the nature of these deviations. Under constrained discretion, only short deviations occur, agents' uncertainty … about the macroeconomy remains contained, and welfare is high. However, if a deviation persists, uncertainty accelerates and … welfare declines. Announcing the future policy course raises uncertainty in the short run by revealing that active inflation …

pessimism, optimism, and uncertainty that turn out to critically affect macroeconomic outcomes. Agents in the model are fully … beliefs and allows for an analytical characterization of uncertainty. Shocks to beliefs affect economic dynamics and … uncertainty. We use a prototypical Real Business Cycle to illustrate the methods …

pessimism, optimism, and uncertainty that turn out to critically affect macroeconomic outcomes. Agents in the model are fully … beliefs and allows for an analytical characterization of uncertainty. We use a prototypical Real Business Cycle model to …

-level uncertainty and imperfect information over their life cycle. We find that firms make non-negligible and positively correlated … informed. Moreover, young firms tend to wait long before entering or exiting the market faced with high uncertainty about their …

We quantify crash risk in currency returns. To accomplish this task, we develop and estimate an empirical model of …% (and can be as high as 40%) of total currency risk, as measured by the entropy of exchange rate changes, over horizons of … smiles and that jump risk is priced …

In this paper we investigate transmission and spillovers of local and foreign economic policy uncertainty shocks to … addition to local effects we find foreign uncertainty shocks influence the Euro area but not the US unemployment. Moreover we … document weaker spillovers of both local and foreign uncertainty shocks in the more volatile times. …

measures, resulting from the new model, can be used to implemennt joint risk scenario analysis. …