Abstract: The impact of uncertainty on the decision-making of economic agents, such as firms and households, is a important but often neglected element of micro- and macroeconomic theory. With the onset of the financial crisis in 2007 and the strong increase in uncertainty that accompanied it,...

This book discusses recent developments in theoretical and empirical business cycle analysis, identifying possible applications of sophisticated tools by private and public institutions involved in the analysis of economic fluctuations and facilitating interaction between academics, researchers...