more at the zero lower bound than it does during normal times. Central to this result is a precautionary savings channel …. By stimulating labor demand, hiring subsidies reduce unemployment risk and precautionary savings. This increases the …

This paper shows that increased volatility of Örm-level productivity can push the nominal interest rate to its lower …

-or-sow"" model of growth. High volatility of permanent shocks results in high precautionary saving in the safe asset and low … investment, or a ""volatility trap."" Namely, big savers invest relatively little. In contrast, low volatility of permanent … shocks leads to low precautionary saving and high or low investment, depending on the volatility of temporary shocks …

incorporate the effects of macroeconomic uncertainty on private savings behavior. It is shown that the greater the uncertainty in … savings and, other things equal, the larger is the current account surplus. Empirical support for the model is found using …