-unemployment tradeoff for Spain and examine how recent policy changes have affected it. …

, investment and hiring. We take a look at both claims in this article. We start by considering an index of economic policy … uncertainty developed in Baker, Bloom and Davis (2012). Figure 1, which plots our index, indicates that economic policy … uncertainty fluctuates strongly over time. The index shows historically high levels of economic policy uncertainty in the last …

In this study, I constructed a news based economic policy uncertainty (EPU) index for Pakistan using an unsupervised … the COVID-19 pandemic. Once I have developed this news based EPU index for Pakistan based upon our proposed algorithm, I … used this index as an uncertainty measure to evaluate the impact of economic policy uncertainty (EPU) on Dollar Rupee …

their perceived risk. We develop a dynamic stochastic general equilibrium model with the aim of verifying how sensible this …

This paper studies the asset pricing implications of idiosyncratic labor income tail risk on credit spread. I propose a … model featuring an incomplete market, heterogeneous households with recursive preference, and comovement of tail risk in … to labor tail risk. Quantitatively, the tail risk premium can account for as much as 68% of the observed credit spread …

based on an index of US partisan conflict for identification, we find that reduced political risk has expansionary impact …We investigate the macroeconomic effects of political risk in an information-rich SVAR. Using an external instrument …

target firm's exposure to systematic risk from its peers' observations. This learning mechanism endogenously creates a time … empirical evidence that the posterior estimate of systematic-risk exposure from collective learning, rather than from individual …

We structurally estimate an investment-based asset pricing model, where firms' exposure to macroeconomic risk is … productivity and consumption growth. The model implies that discount rates rise endogenously with the perceived risk exposure of … them. In particular, we find that cross-sectional learning from peers is crucial in this context and alternative risk …