link between monetary policy rate uncertainty and equity return volatility, both in theory and data. This paper uses … for equity variance and volatility at weekly, monthly and even quarterly horizons. The findings imply that market views of …

of high volatility compared to periods of low volatility, using a regime-switching vector autoregression. The lower … that is weaker in high volatility periods. To rationalize our robust empirical results, we use a macroeconomic model in … volatility of aggregate shocks. In low volatility periods, banks lever up, which makes their balance sheets more sensitive to …

of high volatility compared to periods of low volatility, using a regime-switching vector autoregression. Exogenous … is weaker in high volatility periods. To rationalize our robust empirical results, we use a macroeconomic model in which … volatility of aggregate shocks. In low volatility periods, financial intermediaries lever up, which makes their balance sheets …

of high volatility compared to periods of low volatility, using a regime-switching vector autoregression. The lower … that is weaker in high volatility periods. To rationalize our robust empirical results, we use a macroeconomic model in … volatility of aggregate shocks. In low volatility periods, banks lever up, which makes their balance sheets more sensitive to …

of high volatility compared to periods of low volatility, using a regime-switching vector autoregression. Exogenous … is weaker in high volatility periods. To rationalize our robust empirical results, we use a macroeconomic model in which … volatility of aggregate shocks. In low volatility periods, financial intermediaries lever up, which makes their balance sheets …

This paper explores the effects of nominal volatility and limited participation in asset markets on the risk sharing … available for investment, limited participation and nominal volatility can generate an inefficiently small number of financial … assets. A monetary rule, such as a fixed exchange rate or monetary union, that reduces nominal volatility can foster the …