first on Fisher's influences in monetary theory (the quantity theory of money, the Fisher effect, Gibson's Paradox, the … monetary theory of business cycles, and the Phillips Curve, and empirics, e.g. distributed lags.). Then we discuss Fisher and …

individuals make insurance choices for low-probability, high-consequence events. Participants were told the probability and … observe. The majority of individuals (63 percent) behaved in ways that were consistent with expected utility theory, although …

Climate change is real and dangerous. Exactly how bad it will get, however, is uncertain. Uncertainty is particularly … bottom value also implies higher uncertainty about the temperature increase, a definite bad. Under reasonable assumptions …

the model, we can get around this problem by attaching probability distributions to various parameters and then simulating …

We inject aggregate uncertainty - risk and ambiguity - into an otherwise standard business cycle model and describe its … consequences. We find that increases in uncertainty generally reduce consumption, but they do not account, in this model, for …

We introduce a simple, easy to implement instrument for jointly eliciting risk and ambiguity attitudes. Using this … significantly overstated when risk neutrality is assumed. This highlights the interplay between risk and ambiguity attitudes as well …

outcomes, over the nature and extent of the uncertainty over those outcomes, and over the framework that should be used to …

.S. household survey, we measure ambiguity aversion using custom- designed questions based on Ellsberg urns. As theory predicts …

towards risk. We find that the uncertainty associated with anthropogenic climate change imply carbon taxes much higher than …There is great uncertainty about the impact of anthropogenic carbon on future economic wellbeing. We use DSICE, a DSGE … implied by deterministic models. This analysis indicates that the absence of uncertainty in DICE2007 and similar models may …