political uncertainty is priced in the equity option market as predicted by theory. Options whose lives span political events …We empirically analyze the pricing of political uncertainty, guided by a theoretical model of government policy choice …. To isolate political uncertainty, we exploit its variation around national elections and global summits. We find that …

political uncertainty is priced in the equity option market as predicted by theory. Options whose lives span political events …We empirically analyze the pricing of political uncertainty, guided by a theoretical model of government policy choice …. To isolate political uncertainty, we exploit its variation around national elections and global summits. We find that …

elections and global summits. We find that political uncertainty is priced in the option market in ways predicted by the theory …We empirically analyze the pricing of political uncertainty, guided by a theoretical model of government policy choice …. Options whose lives span political events tend to be more expensive. Such options provide valuable protection against the risk …

technological revolutions, the nature of this uncertainty changes from idiosyncratic to systematic. The resulting quot … characterized by high uncertainty and fast adoption. We find empirical support for the model's predictions in 1830-1861 and 1992 …

revolutions, the nature of this uncertainty changes from idiosyncratic to systematic. The resulting "bubbles" in stock prices are … observable ex post but unpredictable ex ante, and they are most pronounced for technologies characterized by high uncertainty and …

political uncertainty is priced in the equity option market as predicted by theory. Options whose lives span political events …We empirically analyze the pricing of political uncertainty, guided by a theoretical model of government policy choice …. To isolate political uncertainty, we exploit its variation around national elections and global summits. We find that …

We analyze how changes in government policy affect stock prices. Our general equilibrium model features uncertainty … should be large if uncertainty about government policy is large, and also if the policy change is preceded by a short or … shallow economic downturn. Policy changes should increase volatilities and correlations among stocks. The jump risk premium …