uncertainty into Integrated Assessment Models (IAMs). Uncertainty is transformed into a risk-premium, damage-correction, region …. This risk premium quantifies what society would be willing to pay to insure against the uncertainty of the damages, and it …

oligopoly characterized by a homogeneous non-storable good, sticky prices and uncertainty. Our model nests the classical dynamic …-time limit of our model with no uncertainty and no risk-aversion. Focusing on the continuous-time limit of the infinite horizon … inversely related to the degrees of uncertainty and risk-aversion. However, the effect of uncertainty and risk …

Uncertainty faced by individual firms appears to be heterogeneous. In this paper, I construct new empirical measures of … firm-level uncertainty using data from the I/B/E/S and Compustat. These new measures reveal persistent differences in the … degree of uncertainty facing individual firms not reflected by existing measures. Consistent with existing measures, I find …

We address the problem of choosing a portfolio of policies under "deep uncertainty." We introduce the idea of belief …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk … do not impose any model structure on the consumption process. This suggests that Italian households do not have access to …

financial risks on consumption choices in the Mediterranean Region. The analysis is carried out using time series aggregate data … significantly influence consumption dynamics. Our estimates of the indexes of relative risk aversion and relative prudence, as well …

This paper studies the empirical relationship between consumption and saving under two different sources of uncertainty … aversion and relative prudence, and relative preference of environmental quality. -- Consumption ; Precautionary Saving … financial and environmental risks affect consumption. Moreover, we suggest a solution to some shortcomings which concern the …