measures for this risk premium, we document that it also exhibits growth asymmetry, i.e. the risk premium rises sharply in … which agents cannot perfectly observe the state of current productivity, can generate the observed asymmetry in the risk … premium. Key for this result are endogenous fluctuations in uncertainty which induce procyclical variations in agent’s nowcast …

We study the development of bank lending in the U.S. after four large jumps in uncertainty using an event study … uncertainty. Lending by smaller banks is also less responsive to increases in uncertainty. Banks with a higher capitalization …-bank holding company. This heterogeneity across banks suggests that declines in bank lending following increases in uncertainty are …

I construct a novel measure of household uncertainty based on survey data for European countries. I show that household … uncertainty shocks are not universally like negative demand shocks. Notably, household uncertainty shocks are largely inflationary … role in the transmission of household uncertainty to inflation. I develop an Overlapping Generations New Keynesian model …

I construct a novel measure of household uncertainty based on survey data for European countries. I show that household … uncertainty shocks are not universally like negative demand shocks. Notably, household uncertainty shocks are largely inflationary … role in the transmission of household uncertainty to inflation. I develop an Overlapping Generations New Keynesian model …

We study the development of bank lending in the U.S. after four large jumps in uncertainty using an event study … uncertainty. Lending by smaller banks is also less responsive to increases in uncertainty. Banks with a higher capitalization …-bank holding company. This heterogeneity across banks suggests that declines in bank lending following increases in uncertainty are …

We study the development of bank lending in the U.S. after four large jumps in uncertainty using an event study … uncertainty. Lending by smaller banks is also less responsive to increases in uncertainty. Banks with a higher capitalization …-bank holding company. This heterogeneity across banks suggests that declines in bank lending following increases in uncertainty are …

We study the development of bank lending in the U.S. after four large jumps in uncertainty using an event study … uncertainty. Lending by smaller banks is also less responsive to increases in uncertainty. Banks with a higher capitalization …-bank holding company. This heterogeneity across banks suggests that declines in bank lending following increases in uncertainty are …

We study the development of bank lending in the U.S. after four large jumps in uncertainty using an event study … uncertainty. Lending by smaller banks is also less responsive to increases in uncertainty. Banks with a higher capitalization …-bank holding company. This heterogeneity across banks suggests that declines in bank lending following increases in uncertainty are …

framework, combined with parameter learning, features rich history-dependent uncertainty dynamics. We show that bad news that … greatly amplified when agents have a preference for early resolution of uncertainty. We leverage survey recession probability … historical periods in which uncertainty and risk premia were elevated because of news shocks. …

framework, combined with parameter learning, features rich history-dependent uncertainty dynamics. We show that bad news that … greatly amplified when agents have a preference for early resolution of uncertainty. We leverage survey recession probability … historical periods in which uncertainty and risk premia were elevated because of news shocks. …