, or "uncertainty shocks", are an important model ingredient. First, they account for countercyclical movements in risk … changes in both risk-premia and expected future real rates, uncertainty shocks account for about 1/2 of the variance of long …

, or "uncertainty shocks", are an important model ingredient. First, they account for countercyclical movements in risk … changes in both risk-premia and expected future real rates, uncertainty shocks account for about 1/2 of the variance of long …

, or "uncertainty shocks," are a crucial driver of bond risk premia. We highlight three main results. First, our term …

, or "uncertainty shocks," are a crucial driver of bond risk premia. We highlight three main results. First, our term …

causal relationship between these variables. Finally, we show that a shock related to US monetary policy uncertainty tends to …

the price level to a temporary risk shock are permanent. Our theoretical discussion shows that adopting a credible long …In this paper, we analyse nominal exchange rate and price dynamics after risk shocks with short-term interest rates … constrained by the zero lower bound (ZLB). We show with a stylized theoretical model that temporary risk shocks may lead to …

positive policy rate shock positively for all periods and have a hump shape for government debt security yields as well as for … all interest rates to the policy shock increase; (iii) the responses to the policy shock of credit interest rates with …