crisis. Within a partial investment model, two kinds of uncertainty are introduced: volatility and disaster risk. The article …Abstract: The impact of uncertainty on the decision-making of economic agents, such as firms and households, is a … strong increase in uncertainty that accompanied it, the theoretical analysis of this phenomenon has become more important …

development triggered by uncertainty jumps is mostly due to aggregate demand reactions (such as reductions in investment and … development of bank lending in the U.S. after four large jumps in uncertainty using an event study approach. We find that more … liquid banks slow down lending less after a surge in uncertainty. Lending by smaller banks is also less responsive to …