In this paper we address the issue of how parameter uncertainty affects the optimal degree of central bank conservatism … Phillips-curve. Multiplicative "Brainard" uncertainty is added to the model. This means that the central bank's policy … instrument has a stochastic impact on inflation. This type of uncertainty is particularly interesting, since it affects the …

Netherlands and Spain. <p> An important result of the study is the strong negative influence of inflation uncertainty on GDP in …

This paper studies the impact of uncertainty on the investors' reactions to news on macroeconomic statistics. With … react significantly stronger to US macroeconomic news in times of low macroeconomic, financial and political uncertainty. We … also find that investors are more sensitive to the uncertainty in the financial market compared to the macroeconomic and …