Using panel household survey data from rural Ethiopia, we investigate informal risk sharing against health shocks in the presence of multiple risk sharing networks. We find that neither short-term nor long-term health shocks are insured through transfers from networks such as friends, neighbors,...

The failure of decreases in oil prices to produce expansions that mirror the contractions associated with higher oil prices has been a topic of considerable interest. We investigate for the G-7 one explanation for this feature - the role of uncertainty about oil prices. In particular, we examine...

We estimate the response of domestic oil drilling to uncertainty about oil prices. We measure domestic drilling activity by the weekly number of rigs drilling for oil, and we measure oil uncertainty by implied volatility from options on oil futures. We find that oil uncertainty has a negative...

This paper examines the effects of inflation uncertainty on real economic activity by utilizing a flexible, dynamic, multivariate framework that accommodates possible interaction between the conditional means and variances. The empirical model is based on a familiar identified vector...