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This paper quantifies the economic impact of uncertainty shocks in the UK using data that span...

U.S. household consumption declined sharply in late 2008, marking a departure from thetrend of a...

Do persistently low nominal interest rates mean that governments can safely borrow more? To...

We develop new economic policy uncertainty (EPU) indices for Japan from January 1987 onwards...

Macroeconomic forecasts are persistently too optimistic. This paper finds that common factors...

We show that an increase in aggregate uncertainty—measured by stock market volatility—reduces...