This paper studies a dispersed information economy in which agents can exert costly attention to learn about an unknown aggregate state of the economy. Under certain conditions, attention and four measures of uncertainty are countercyclical: Agents pay more attention when they expect the economy...

One of the most puzzling evidences of Brazil's economic performance is that, despite the country's ability to grow at high rates, its long-term growth has been disappointing. Behind this deficient long-term outcome, Brazil shows a high growth volatility. It has experienced substantial growth...

This review article tries to answer four questions: (i) what are the stylized facts about uncertainty over time; (ii) why does uncertainty vary; (iii) do fluctuations in uncertainty matter; and (iv) did higher uncertainty worsen the Great Recession of 2007-2009? On the first question both macro...

This review article tries to answer four questions: (i) what are the stylized facts about uncertainty over time; (ii) why does uncertainty vary; (iii) do fluctuations in uncertainty matter; and (iv) did higher uncertainty worsen the Great Recession of 2007-2009? On the first question both macro...

Do countries with higher levels of national IQ experience less volatility in the growth of real economic output compared with lower-IQ countries? This issue has not been addressed. Using a large sample of countries, a simple bivariate correlation indicates that IQ and economic volatility are...

We extend the multi-country, multi-sector agent-based model in Dosi et al. (2019, 2021) by incorporating an exchange rate market where heterogeneous chartist and fundamentalist financial traders exchange foreign currencies. This introduces complex interactions between the real and financial side...

We study the impact of private information on volatility in financial markets. We develop a comprehensive framework to investigate this link while controlling for the effects of both public information (such as macroeconomic news releases) and private information on prices and the effects of...

We study the impact of private information on volatility in financial markets. We develop a comprehensive framework to investigate this link while controlling for the effects of both public information (such as macroeconomic news releases) and private information on prices and the effects of...

The MCX role has been expanded over the years as it has Partnered with exchanges from across the world giving it Clients a bigger platform over which they can improve their portfolio. It has also allowed foreign investors to directly invest within the country increasing the country’s revenue....