We use a new uncertainty index, proposed by Baker et al. (2016), and a relatively new methodology by Kilian and Vigfusson (2011), to assess the impact of economic policy related uncertainty on real economic activity. We use monthly data, over the period from 1985:1 to 2015:3, and impulse...

In this paper we investigate the relationship between leverage and the level of economic activity in the United States, using quarterly data over the 1951 to 2012 period. We address the question for …five different measures of leverage - —household leverage, non…financial fi…rm...

The current mainstream approach to monetary policy is based on the New Keynesian model and is expressed in terms of a short-term nominal interest, such as the federal funds rate in the United States. It ignores the role of leverage and also downplays the role of money in basic monetary theory...

Many global shocks, including the renegotiation of NAFTA, the United States-China trade war, the Brexit, and the COVID-19 pandemic, may have recently influenced the inflation spillover in the G7 countries. The current literature overlooks the influence of these important events on the inflation...

This study differentiates between housing wealth and financial wealth and investigates whether changes in house prices and changes in interest rates have positive effects on the fertility rate. The study uses U.S. data between 1975-2020, a structural VAR model, and a Toda-Yamamoto causality test...

We investigate the possible asymmetric response of inflation expectations to oil price and policy uncertainty shocks. Unlike other studies that assume symmetric effects, our study finds asymmetric effects of oil price and policy uncertainty on inflation expectations for positive and negative...

Purpose: We investigate the nature and degree of US economic policy uncertainty spillover on the stock markets of a group of nonconventional economies like the GCC countries, where risk-sharing based financial system is prominent and foreign investment, risk-free interest, derivatives, etc. are...

Many global shocks, including the renegotiation of NAFTA, the United States-China trade war, the Brexit, and the COVID-19 pandemic, may have recently influenced the inflation spillover in the G7 countries. The current literature overlooks the influence of these important events on the inflation...

Using mostly theoretical models and traditional risk/uncertainty measures (VIX index, panic, precaution, scary bad news, etc.), the current literature tries to clarify the risk/uncertainty-deleveraging pattern. The findings are not sufficient to explain the dynamic empirical relationship between...