rationality, the combination of experts' moral hazard and investors' learning generates bubble-like price dynamics: gradual …

market set-up that accounts for fundamental uncertainty. Nonetheless, the market is designed so that its total value is known …

market set -up that accounts for fundamental uncertainty. Nonetheless, the market is designed so that its total value is …

Many commentators argue that uncertainty about tax, spending, monetary and regulatory policy slowed the recovery from … the 2007-2009 recession. To investigate this we develop a new index of economic policy uncertainty (EPU), built on three … components: the frequency of newspaper references to economic policy uncertainty, the number of federal tax code provisions set …

We study the trading behavior of short sellers in the presence of economic policy uncertainty (EPU). Daily short … interest under high political uncertainty is from shorting stocks characterized by higher mispricing, greater policy …

We show theoretically that when Bayesian investors face time-series uncertainty about assets' risk exposures … prediction. Our results have important implications for understanding how prior-induced parameter uncertainty affects asset …

news entropy, we find that decreases are associated with two key features: an increase in uncertainty measures and a …

We consider several economic uncertainty indicators for the US and UK before and during the Covid-19 pandemic: implied … stock market volatility, newspaper-based economic policy uncertainty, twitter chatter about economic uncertainty, subjective … uncertainty about future business growth, and disagreement among professional forecasters about future GDP growth. Three results …

Theory as well as empirics suggest that both the level and the volatility of uncertainty impact important economic … variables. There is a need to extend models of uncertainty to the volatility of uncertainty. We analyse the dynamics of the … Economic Policy Uncertainty index developed by (Baker et al., 2016) and show that for four major economies in Europe – France …

We consider several economic uncertainty indicators for the United States and the UK before and during the COVID-19 … pandemic: implied stock market volatility, newspaper-based economic policy uncertainty, twitter chatter about economic … uncertainty, subjective uncertainty about future business growth, and disagreement among professional forecasters about future …