We assess the contribution of macroeconomic uncertainty -- approximated by the dispersion of the real GDP survey … on macroeconomic indicators and expectation uncertainty. Measures of macroeconomic uncertainty improve the ex ante …

We develop an asset-pricing model with endogenous corporate policies that explains how inflation jointly impacts real … when inflation falls. An increase in inflation has opposite effects, but with smaller magnitudes. In the cross section, the … model predicts the negative impact of inflation on real equity values is stronger for low leverage firms. We find empirical …

We develop an asset-pricing model with endogenous corporate policies that explains how inflation jointly impacts real … inflation falls. An increase in inflation has opposite e ffects, but with smaller magnitudes. In the cross section, the model … predicts the negative impact of inflation on real equity values is stronger for low leverage firms. We find empirical support for …

We develop an asset-pricing model with endogenous corporate policies that explains how inflation jointly impacts real … when inflation falls. An increase in inflation has opposite effects, but with smaller magnitudes. In the cross section, the … model predicts the negative impact of inflation on real equity values is stronger for low leverage firms. We find empirical …