although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. … surge in the stock market would be self-correcting. Recent papers have discussed the role of "uncertainty" and its …

Uncertainty shapes the trajectory of business cycles and remains a central research topic in Macroeconomics. When … studying the impact of uncertainty on the economy, economists use different uncertainty measures. While all indicators … approximate uncertainty along some certain dimension, none of the indicators directly captures Knightian Uncertainty. According to …