and of the variance of the process driving the slope coefficient. A loss is also incurred when a TVCM different from the …

worth, the evaporation of liquidity and rising risk premia are the key channels through which geopolitical uncertainty …

powerful to detect changes in the conditional model parameters, whether or not the variance of the regression error is included … (Brown et al., 1975) to serial correlation, endogeneity and lack of structural invariance. Our findings suggest that these … tests perform better in the context of a dynamic model of the ADL type, which is not affected by serial correlation or …

characterized by higher uncertainty and geopolitical risk, tighter credit and liquidity conditions, and sluggish economic and real …