capital markets and uncertainty. Our model assumes that consumption decisions occur more frequently than income receipt. We … only the level of consumption function and not the MPC, whilst mean preserving changes in uncertainty affect both. …

scheme between an income contingent loan and a mortgage loan is preferred for higher level of uncertainty. Assuming a single … sector, to stress on the extreme difference on the level of uncertainty. To make the model more realistic, we allow for the … effects of the uncertainty each year for all the individual working life, assuming that the graduate income grows following a …

uncertainty. Assuming a single lifetime shock on graduate incomes, we compare the individual expected utilities under the two loan … uncertainty and considering the features of the UK Higher Education Reform to observe the implications of the switch from a ML to …

direct measures of uncertainty. We present a simple statistical framework in which to define and interrelate measures of … uncertainty and disagreement. The resulting measures are compared with other direct measures of uncertainty, nationally and … internationally. A significant, sustained reduction in inflation uncertainty followed the 1997 granting of operational independence to …

periodically but make consumption decisions on a more frequent basis. The model incorporates price uncertainty and imperfect credit …