We investigate the possible asymmetric response of inflation expectations to oil price and policy uncertainty shocks …. Unlike other studies that assume symmetric effects, our study finds asymmetric effects of oil price and policy uncertainty on …

federal funds rate from econometric forecasts predicted by constant gain learning. We incorporate this measure of uncertainty … into a VAR model with ARCH shocks to measure the effect monetary policy uncertainty has on inflation, output growth …, unemployment, and the volatility of these variables. We find that a higher degree of uncertainty regarding monetary policy is …