This paper investigates the effects of uncertainty shocks on selected U.S. financial asset prices by decomposing a … traditional uncertainty shock into its supply-side and demand-side components. Following the approach by Piffer and Podstawski … (2018), we identify uncertainty shocks using the price of gold and enhance this strategy by introducing the price of oil as …

to expectation uncertainty. Using data from a survey on macroeconomic expectations of private households in Germany, we … expectation uncertainty, only 14 percent of respondents explicitly attribute rounding to uncertainty. Most households round to … differences in uncertainty between these groups. The findings suggest caution in interpreting rounding in such settings as a …

We develop a measure of static misallocation that separates uncertainty from misallocation generated by tax …-like distortions. In the Finnish firm-level data, uncertainty accounts for the majority of ex post misallocation and explains a strong … implies idiosyncratic distortions, in line with our accounting approach. According to our quantitative results, uncertainty …

robust model for small amounts of uncertainty and analyze the effect of robustness on optimal trading strategies and … liquidation costs. In particular, in our model ambiguity aversion is observationally equivalent to increased risk aversion. This …

uncertainty in estimates of population parameters. In science, evidence is generated to test hypotheses in an evidence …-generating process (EGP). We claim that EGP variation across researchers adds uncertainty: Non-standard errors (NSEs). We study NSEs by … or higher rated research. Adding peer-review stages reduces NSEs. We further find that this type of uncertainty is …

estimates of survey-consistent term structures of expectations and uncertainty at arbitrary forecast horizons. Our models … comparable in quality to the published, widely used short-horizon forecasts. Our estimates of time-varying forecast uncertainty …

critical moderating factors for this heterogeneity; differences in individual uncertainty about future inflation and …

The current paper broadens the understanding for the role of uncertainty in the context of a macroeconomic environment …. It focuses on the implications of uncertainty shocks on indicators that tend to precede financial crises. In an empirical … analysis we show for a set of four euro area countries that negative uncertainty shocks, while accompanied by favorable effects …