finance nor to traditional economical theories? Inspired by rational choice theory, this paper tries to explore this largely …

We present a novel finding that high macroeconomic uncertainty is associated with greater accumulation of physical … capital, despite a contemporaneous reduction in investment. To reconcile this evidence, we show that high uncertainty predicts … the relationship between uncertainty, economic growth, and asset prices. In the model, precautionary saving is achieved by …

agents produce output in each period and can allocate the output between consumption and investment (the experiment adds to …

theory of consumption is suggested and discussed with respect to its implications for making a transition to more sustainable …