household wealth, and increased uncertainty about the future are among the contributing factors. Finally, I consider whether …

Uncertainty represented by volatilities in equity markets has been observed to be time-variable and lead output … fluctuations. In the rational expectation framework, uncertainty with this nature needs exogenous variables with time … that supervisions and law enforcement that reduce cheatings in contracts is one of the ultimate sources of uncertainty. The …

We introduce a novel method for measuring economic uncertainty at the firm, sector, and aggregate levels using sales … volatility and validate it by comparison with existing macroeconomic uncertainty measures. We use Compustat firms data in the … period 2000-2022 to construct our uncertainty measures for the U.S. economy. Our findings highlight that 1) macroeconomic …

mechanism then provides a rationale for discount factor first- and second-moment (“uncertainty”) shocks …

Uncertainty has an almost negligible impact on project value in the economic standard model. I show that a … comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The analysis relies on the … and with respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic …