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A large number of measures for monitoring risk and uncertainty surrounding macroeconomic and financial outcomes have … researchers in their analyses. However, risk and uncertainty measures differ across multiple dimensions, including the method of … calculated. Therefore, in this paper, we review the literature on global risk, uncertainty, and volatility measures drawing on …
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other? This paper looks at the basic structural facts, the nature of uncertainty shocks, and the efficiency of policy tools … in the two economies. The key to understanding recent developments is uncertainty. This paper argues that the channel … through which uncertainty influences inflation, wage cost, and unemployment is the markup firms charge to cover their cost of …
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critical moderating factors for this heterogeneity; differences in individual uncertainty about future inflation and …
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Liquidity problems lie at the heart of crises on financial markets as demonstrated in this paper by detailed descriptions of the stock market crash in 1987, the LTCM-crisis in 1998 and the financial market consequences of 11 September 2001. The events also demonstrate that modern central banks,...
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In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing …
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We investigate the relationship between inflation uncertainty and monetary policy transmission in the U.S. economy … uncertainty and contributes to the reduced policy effectiveness. …
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