In this paper, we conduct an empirical study of how uncertainty alters fertility behavior. The precautionary motive for … saving predicts that an increase in income uncertainty increases saving by reducing both consumption and fertility. We … examine this prediction using a new measure of economic uncertainty, the World Uncertainty Index and focus on data from 126 …

mechanism then provides a rationale for discount factor first- and second-moment (“uncertainty”) shocks …

correlation between output and aggregate uncertainty. We find the transmission of uncertainty shocks to output is weak, while … aggregate uncertainty endogenously responds to first moment shocks in the presence of labor market search frictions. This … indicates that countercyclical movements in aggregate uncertainty are endogenous responses to changes in output, rather than …

matching the micro facts, demand dispersion has unambiguously negative effects on output via increased uncertainty and a "wait …

uncertainty shocks stemming from geopolitical swings in South Korea. We construct robust instrumental variables for examining the … variations in uncertainty due to geopolitical swings by observing high-frequency changes in financial asset returns and their … uncertainty has a negative (positive) impact on macroeconomic outcomes in South Korea. We provide evidence that financial and …