uncertainty. The Sovereign faces a trade-off between a future costly default and a high current fiscal effort. This results into a … uncertainty about future fundamentals is then a source of default through its effect on long term interest rates and the optimal …

This paper quantifies the economic impact of uncertainty shocks in the UK using data that span the recent Great … Recession. We find that uncertainty shocks have a significant impact on economic activity in the UK, depressing industrial … negligible after 18 months. Interestingly, the impact of uncertainty shocks on industrial production in the UK is strikingly …

We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based … price index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of employment …-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we need to …

Output gap estimates are subject to a wide range of uncertainty owing to data revisions and the difficulty in … recessions, and that uncertainty in initial output gap estimates persists several years. Only a small share of output gap …

capital constrained, uncertainty in asset quality and rollover risk create a negative externality that spills over to the real …

findings are robust to the inclusion of the term-spread, uncertainty, and oil prices. Lastly, there is no evidence of …

system of capital regulation that addresses these needs by making changes to all three pillars of bank regulation: only …