Using a new survey of European households, we study how exogenous variation in the macroeconomic uncertainty perceived … macroeconomic uncertainty of some households. The effects on their spending decisions relative to an untreated control group are … measured in follow-up surveys. Higher macroeconomic uncertainty induces households to reduce their spending on non …

This paper shows that macroeconomic uncertainty affects the housing market in two significant ways. First, uncertainty … fixed-effects regressions, we find that uncertainty shocks reduce both housing prices and median sales prices in the amount … sold. Second, when both uncertainty and local demand shocks are introduced, the effects of uncertainty on the housing …

This paper uses a FAVAR model with external instruments to show that the policy uncertainty shocks are recessionary and …

how different sources of uncertainty factor into monetary policy communications. To help markets and others understand its … are being considered in policy formulation. Discussion of uncertainty becomes particularly important when a large shock …

This paper aims an empirical investigation of uncertainty in the Euro Zone as well as the US. For this purpose I … conduct a factor analysis of uncertainty measures starting in 2001 until the end of 2011. I use survey-based data provided by … implied volatility of stock market movements. Each measure shows an increase in uncertainty during the last years marked by …

incorporation of uncertainty into policy decision-making. The sort of post-crisis uncertainty that central banks are dealing with … this burden of coherence means that fundamental uncertainty must be incorporated explicitly into the policy formulation … management, one consequence of which is to inject a little more realism about uncertainty into the policy narrative, while …